NEW YORK CITY-The City Planning Commission granted Madison Square Garden a 15-year special permit on Wednesday to operate at its current location above Penn Station. The decision is a clear victory to supporters of a new Penn Station at the site and a rebuke of MSG’s hopes to be given city approval to operate there in perpetuity.

NEW YORK CITY-Pier 57 developer Young Woo & Associates reports that at least five retailers will debut at the headhouse of the firm’s 440,000-square-foot mall it is developing at Pier 57.

NEW YORK CITY-An affiliate of the Blackstone Group, Blackstone Mortgage Trust could raise up to $659 million in a stock sale intended to finance acquisition of a loan portfolio.

NEW YORK CITY-The sale of a combined 23 million shares of Equity Residential and AvalonBay occurs about a month after the end of a lockup period following Lehman’s sale of Archstone to the two REITs.

The property, which will feature 55 residential units and a grocery store, will replace the Landmarks Preservation Commission's former warehouse.

NEW YORK CITY-Although Toys R Us can still decide to renew its flagship store space in Times Square, the owner of the property has Cushman & Wakefield marketing the space for lease at a retail convention in Las Vegas.

NEW YORK CITY-Already a lender for senior housing projects, the company expands its suite of products with this deal.

ORANGETOWN, NY-The Rockland Industrial Development Agency approved a package of sales and mortgage recording tax incentives earlier today for the largest development project in its history—the Bloomberg LP data center—valued at $845.6 million in total investment.

NEW YORK CITY-The flagship Saks Fifth Avenue store alone is believed to be worth more than $1 billion, the New York Post reported Tuesday.

NEW YORK—Firm will buy MGPA, bolstering Asian holdings. Terms were not disclosed.

New York City-The growing firm tells GlobeSt.com’s Rayna Katz the hire opens a new market for the company, which is looking to triple the size of its project management group.

NEW YORK CITY-Real estate finance firm PCCP, LLC reports it has provided Meadow Partners a $30-million senior loan for recapitalization and conversion of the nine-story multi-tenant office and retail building at 42-15 Crescent St. in Long Island City into a 124-unit, 10-story Class A, market-rate multifamily/retail project.

NEW YORK CITY-Bloomberg LP is reportedly taking another 68,000 square feet of office space at 120 Park Ave. here.

NEW YORK CITY-The tech giant, consolidating from three other Manhattan locations, is eyeing signage rights at Blackstone’s 229 W. 43rd.

NEW YORK CITY-The credit agreement is backed by a condominium development in Clinton Hill.

CHICAGO—First-quarter growth increases calls from some to consider self-storage a separate and vital real estate sector.

NEW YORK CITY-A 625-foot Ferris wheel will be among the most visible components of a planned redevelopment of the borough’s North Shore.

NEW YORK CITY-The tenant rep firm brought in another vice president at the beginning of the month.

WASHINGTON, D.C.-GlobeSt.com’s Rayna Katz spoke with the organization’s COO about its ambitious plan to slash the unemployment rate.

NEW YORK CITY-RFR Holding, the owner of the Seagram Building, is reportedly looking to raise the rent for the Four Seasons Restaurant by nearly $3 million a year when its lease expires in 2015.