**The LeFrak family has transformed Newport’s boardwalk into a sprawling waterfront community with luxury towers that rival their peers across the Hudson. For their latest project — the Ellipse — LeFrak had to import 50,000 tons of dirt in order to comply with new regulations that were passed post Hurricane Sandy. In particular, the 43-story Ellipse tower had to have its first floor pushed up from 10.6 feet to about 13 feet. Designed by Arquitectonica, which has its headquarters in Miami, the new luxury rental will have an elliptical shape which will give it three-sided views of the water.
Check out the vintage NYT/LeFrak photo below if you’re curious what the dilapidated Newport boardwalk looked like back in 1987 before any of the neighborhood’s current high-rises were constructed. —WSJ
**NY Governor Cuomo may give developers Related Companies and Vornado Realty the boot. The two were in charge of a $900 million project that would turn the block-long post office in midtown Manhattan into a new transportation hub. However, construction has come to a halt with little to show. Should the deal fall apart, Brookfield Properties has already shown interest. —NYT