The state approved on Monday the plans to develop the last remaining parcel of land in the Times Square area. The plans call for either a 40-story office building or a 58-story residential tower to rise at a hole at 42nd Street and Eighth Avenue. The parcel was sold to New Jersey-based SJP Properties in June for a reported $260 million. more [NYDN] and more [NYT]
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State OKs plans for Times Square site
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