The Week in Review

1. Townhouse Demolisged After Partial Collapse: A landmarked Flatiron district townhouse at 22 W. 24th St. that was once the home of architect Stanford White was demolished this week after it partially collapsed. Just a few weeks ago, the city warned about the building's instability. The collapse caused no injuries. White outfitted his home with a red velvet swing for his young companion, showgirl Evelyn Nesbit. After she married, her husband Harry Thaw shot and killed White at the rooftop garden of the original Madison Square Garden, which White, who was a partner in McKim, Mead and White, designed.

2. Commercial Sales Fall 67%: Commercial sales in Manhattan fell 67% in September compared to the previous month, with the $1.028 billion in commercial sales marking the lowest monthly total so far this year. Sales of residential buildings over the same period fell 53%, although the $360.2 million of residential sales outperformed February's and May's figures of $233 million and $250 million, respectively. The numbers were recorded as part of the monthly research report from Real Capital Analytics. The reasons for the drop include the liquidity problems posed by the subprime mortgage market and seasonal trends.

3. Village Hotel May Face Battle For Liquor License: Neighbors of the Cooper Square Hotel, which is under construction at Bowery and East 5th Street, say they could be disturbed by its three indoor bars, garden, and terrace extending toward other buildings. Community Board 3 is considering withholding a liquor license from the hotel if the developer, Peck Moss Group, does not cooperate with the aggrieved neighbors.

4. 450 Park Sells For Record $509m: The private equity firm Somerset Partners has acquired 450 Park Ave. for $509 million, or about $1,566 a square foot, the highest price ever paid for an American office tower on a square foot basis, according to Bloomberg News. Taconic Investment Partners sold the 325,000-square-foot tower, at the corner of East 57th Street. Tenants include the law firm Cleary Gottlieb Steen & Hamilton and the hedge fund Tudor Investment.

5. 206 Blocks in Bedford-Stuyvesant Are Rezoned: The City Council approved a rezoning of 206 blocks in the Bedford-Stuyvesant section of Brooklyn. The move was designed to preserve brownstones in the southern portion of the neighborhood and add more affordable housing to denser areas. Developments can reach eight stories on Nostrand and Bedford avenues and 10 stories on Fulton Street and Atlantic Avenue. The southeastern area of the neighborhood was rezoned to mixed use from light manufacturing.

jsatow@nysun.com