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11/03/2009 10:03 AM

City Issues Demolition Permits For Former Deutsche Bank Building

By: NY1 News

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The long-delayed demolition of the former Deutsche Bank building is finally set to resume.

The city has issued demolition permits to contractor Bovis Lend Lease, allowing work to get going later this week.

The original completion date in 2005 has been repeatedly pushed back, and construction costs have skyrocketed. Out of the 40-story tower, 26 floors still need to be taken down.

The project has faced a series of setbacks including a deadly fire in August 2007, when two firefighters were killed.