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NEW YORK CITY-Ian Bruce Eichner will be the new developer of the unfinished 50-story bronze glass building named One Madison Park located at East 22nd Street in Manhattan. The development is under the control of a court-hired trustee.

Eichner has filed a new financial restructuring plan for the building along with other developers of the project in the US bankruptcy court. As per the proposal, he would invest a new capital worth $40 million and gain control of the development. For the full story, go to Wall Street Journal.

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