The owners of Manhattan%u2019s landmark Lipstick Building, which housed convicted Ponzi schemer Bernie Madoff's opulent offices, has filed for chapter 11 bankruptcy protection. Could new owners make the economics work?
The John Hancock Tower, Boston's tallest building, will be sold to real estate investment trust Boston Properties Inc. (BXP) for about $930 million.
Boosted by government projects, construction spending unexpectedly rose 0.4% in August. Though a single monthly gain hardly means the sector%u2019s long contraction is over, the data does hint that the period of large, monthly construction spending declines may be ending.