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Groundbreaking Ceremony At 300 Madison Ave.

NEW YORK CITY-The ground was officially broken for the new Canadian

By Betsy Kraat | Updated on June 21, 2001

NEW YORK CITY-In a city with little new construction, new projects aremet with appropriate fanfare, as displayed today at the groundbreakingceremony for 300 Madison Ave. Executives and government officials,donning traditional hardhats and brandishing chrome-plated shovels,scattered dirt as a brass quartet played ragtime music.

“This will be a magnificent building, one that will be a source of pridefor all of us–the city, CIBC World Markets and Brookfield Properties.This is Brookfield’s first construction project in Manhattan, and itwill be the first of many,” said Brookfield Properties chairman JohnZuccotti.

Mayor Giuliani commented, “The development and leasing of 300Madison is a clear indication that the revival of the Grand CentralStation area of Midtown Manhattan is gaining momentum.” 300 Madisonreceived a package of tax incentives courtesy of the IndustrialDevelopment Agency.

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