A midtown developer goes heartland, the rundown Park Avenue corner on E. 125th is ready for its makeover, and more in Wednesday's papers, ready for your eyes now.

One Wall Street

After the write-down, Atlantic Yards locks in a deal to sell a 70% interest, from Bloomberg news service, which also produced an extensive investigation today into how helping homeowners avoid foreclosures has failed, and how the failure leads back to the big banks.

. . . we will be talking about Hilton, UBS, and, via a Reuters opinion piece, affordable rentals.  And two you may have missed from yesterday, stories on a lease renewal downtown, and billionaires.

Activity on Sixth Avenue, an Internet sale for $19 million in Midtown South, and office space tightens nationally.

... and important stories and items you may have missed over the weekend.  Monday's news will include major development stories about Harlem, Gowanus and Queens. Updated for the Monday  Wall Street Journal "What's the Deal?" take on the Bratton appointment and a new Kushner investment in a building-services provider web tool.

A Connecticut real estate investment firm sees its offer trumped in a bid to combine west coast apartment developers.

A push into the market for the holidays, from Bloomberg News.

Hilton's planned IPO: Biggest hotel company offering ever. Plus, more than 25% property growth is in development.

Plus, good economic news from Bloomberg and two Wall Street Journal articles:  Your required reading for Friday AM.

A story yesterday on continuing mortgage activity in the face of rising rates plays out precisely as predicted when the Fed warns of a pullback.

How the new mayor will seek to expand the city's affordable housing.

Assessing the developer after-shock regarding the abandonment of the Midtown East proposal; a merger rumors; new federal rules on transfers in foreclosures, and the New York Post has the details on the debut of a two-part cable reality special featuring a real estate agent who specializes in selling to nude clients.

A big Los Angeles office space in a big real estate investment and management firm goes free range, and the reluctant staff is saying nice things.

Rounding up reports from around the web:  China’s urbanization plan is at its heart a housing and development failure; a huge field of grass grows on the Javitz Center; the feds want $864 million from Bank of America and a former executive for mortgage fraud, and much more.

A Bloomberg story explains that small is now beautiful when you are talking real estate yields. Time to get out of New York?