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Toward the eastern end of the street lies one of the world's most famous train stations; toward the west, one of the most famous entertainment districts. Both have recently undergone major renovations.
Yet in between Grand Central Terminal and Times Square, 42nd Street has been a hodgepodge of tenants and quality, from peep shows to the 70-year-old Lincoln Building to the startling architecture of the Grace Building.
Now, the wind that revived Grand Central and Times Square is finally blowing down the connecting blocks, with at least $3.7 billion worth of new office construction and refurbishing under way from Lexington to Seventh avenues.
"You have these two wonderful commercial districts that border this beautiful green oasis (Bryant Park) in the middle of the thoroughfare, and then the residential sections on the extremes," says Fred Cerullo, president and chief executive of the Grand Central Partnership Business Improvement District. "That's a combination that makes anything tick."
60% leased
The faltering economy and the real estate market could put a damper on these efforts. Even before the downturn, the pace of activity lagged west of Sixth Avenue.
Still, developers along the street say their plans and financing are firm...