Despite financial industry concerns, the Bond Street boom continues; St. Vincent's gets the green light to modernize

Kathryn Wylde, president of the Partnership for New York City, testified before the New York State Assembly Ways & Means Committee that "the next two or three years will be rough going" for the city's financial services industry. Despite these challenges, Ms. Wylde said the organization was "optimistic" about the long-term prospects for the city: "Foreign companies continue to prefer New York as the location for their U.S. operations…New York has more professionals in private equity, hedge funds and asset management than any other city in the world—and these are all sectors where future growth is promising."

The Landmarks Preservation Commission voted 6 to 4 to approve a hardship application by St. Vincent's Hospital to demolish the Edward and Theresa O'Toole Medical Services Building on Seventh Avenue between 12th and 13th Streets. The hospital had argued that the nautically-styled O'Toole Building was the only site that made sense for a major expansion that would be "another step forward to building a 21st century, technologically advanced hospital for Manhattan's West Side and Downtown." The building being destoryed was designed by Albert Ledner, a student of Frank Lloyd Wright. Its replacement will be a 300 foot curved tower that will become a significant new landmark in the Historic District.

Storage-biz king Adam Gordon has put the old Bouwerie Lane Theater on Bond Street and Bowery up for sale, and he'll be building a new 8-unit condo at 41-3 Bond Street. The new residence will be the first foray into the recently designated extension of the NoHo Historic District known for its distinctive new addresses at 25, 40 and 48 Bond Street.