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Ackman’s Scaled-Back Plan for NYC Glass Penthouse Gets Approved

  • Billionaire hedge fund manager says the new design is better
  • Neighbors opposed initial proposal as ‘temple to a titan’
Penthouse revision proposal.
Penthouse revision proposal.Source: NYC Landmarks Preservation Commission

Bill Ackman won approval to build his glass penthouse atop a historic Manhattan co-op tower -- in a scaled-down form. 

The billionaire hedge fund manager said initial opposition to his plans for a Norman Foster-designed structure made the final proposal better. After two rounds of revisions to address complaints about its visibility from the street, the New York City Landmarks Preservation Commission on Tuesday gave the green light to the project.