NEW YORK CITY-A long-rumored deal has been confirmed as Bank of America and the Durst Organization agree to collaborate on a 2.1-million-sf tower on West 42nd Street in Midtown.

NEW YORK CITY-A $62-million loan was provided by CDC Mortgage Capital to an affiliate of Macklowe Properties for the Longacre House. Macklowe also selected CBRE to oversee leasing at its premier propertythe GM Building.

NEW YORK CITY-The design of what will be the world's tallest building, the Freedom Tower, was unveiled today. Developer Larry Silverstein expects the 1,776-sf tower on the World Trade Center site to be completed by 2009.

NEW YORK CITY-The joint venture can work on a range of deals from providing non-recourse financing with leverage up to 95% LTV on single assets of $5 million or more to portfolios up to $350 million.

NEW YORK CITY-Principal Life Insurance takes the 263,000-sf apartment complex at 420 W. 42nd St. for nearly $108.8 million. The complex is actually part residential tower, part theater-related space and retail.

NEW YORK CITY-When it comes to investing, one industry executive believes that next year could be a banner one for the multifamily housing market, if the expected economic recovery takes hold.

NEW YORK CITY-News America Inc. expands its lease at 1211 Sixth Ave. by 100,000 sf. The media concern now occupies 756,000 sf in the Rockefeller Center-area tower.

NEW YORK CITY-Brookfield intends to use the proceeds for general purposes including the repayment of corporate debt.