With or without Arthur Andersen, Times Square has made a tremendous transformation since its days as a haven for the porn industry. Today, other corporate logos include those of Morgan Stanley Dean Witter, Conde Nast and Nasdaq.
Boston Properties, of course, is hanging back on ground-breaking until an anchor is signed. But given the nature of the red-hot New York City real estate market, the wait shouldn't be a long one. Office vacancies for the Midtown sector have been pinned at less than 3%.
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