One Times Square owner gives pedestrian plazas his blessing

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The owner of One and Two Times Square — and their iconic neon signs — is behind Mayor Bloomberg’s decision to make the pedestrian plazas below a permanent fixture. That is, if it’s done right. Jeffrey Katz, the CEO and principal owner of Sherwood Equities, which owns the two buildings, told the New York Times that while the temporary Times Square pedestrian plazas lacked “a lot of forethought and design input,” a team of planners and stakeholders would “guarantee a world-class result” for the real thing. Further east, Sherwood is near-completion on its $20 million capital improvement at its Grand Central retail center, 370 Lexington Avenue. The company’s next building will most likely be green, Katz said, because “that’s what people want.” [NYT]