Frank McCourt has eye on New York office tower development
Boston developer-turned-failed-baseball-team-owner Frank McCourt is starting to spend some of the $1.278 billion profit he made on the sale of the Los Angeles Dodgers. According to The Wall Street Journal, McCourt just plunked down $167 million to purchase a property at 10th Avenue and 30th Street in Manhattan. The paper reports that McCourt plans to create a 730,000-square-foot residential and office tower, which would be his largest development ever. (We wouldn’t be saying that if McCourt’s bid to buy the Red Sox, and build a new stadium on parking lots he owned in South Boston, had succeeded.) McCourt’s spending spree also includes $50 million for a deluxe Manhattan apartment that has 16 rooms and a walk-in closet with views of Fifth Avenue.