Story of power, ego and real estate unfolds at National Arts Club, GroupM searches for 500,000-plus square feet of office space … and more

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1. A “story of power and ego and money and hoarding and real estate” unfolds at the National Arts Club [NYT]
2. Office landlords rejoice as ad-buying firm GroupM begins search for more than 500,000 square feet of NYC office space via CBRE [WSJ]
3. Architects revamping the Javits Center push on, even as their work might be demolished shortly [NYT]
4. Times Square Alliance plans signage to lure visitors to Restaurant Row [Post]
5. Despite rumors, Diddy is not buying the Surf Lodge, Steven Kamali confirms [Twitter]
6. REITs, led by SL Green Realty, pay higher dividends in 2011 [WSJ]
7. New Red Door Spa in Midtown to Have Terrace Overlooking Fifth Avenue; spa plans global expansion [Post]
8. Home sales increase in the Hamptons, especially at the high end, a trend brokers expect to continue though 2012 [NYT]
9. Real estate attorney charged with embezzling $7M in Regal Real Estate’s downtown portfolio sale [AP via WSJ]
10. Disproportionately large tax increase in Queens co-ops has local officials concerned for borough’s large middle class [NYDN]
11. Judge orders Red Bulls soccer team to pay property taxes on Harrison, N.J. stadium [Bloomberg]
12. Claremont Investments to restore Catskills’ Nevele Resort with casino developer [WSJ]