03/10/2009 05:12 am ET Updated May 25, 2011

Construction On $980 Million NYC Skyscraper Suspended

Boston Properties Inc., the biggest U.S. office landlord, plans to suspend construction on a $980 million midtown Manhattan skyscraper after a law firm abandoned plans to lease space there.

"Recently the law firm informed the company that it could not proceed on those terms, thereby rendering the project economically infeasible in today's environment," the Boston- based company said today in a statement. The 1 million square- foot tower at 250 West 55th St. and Eighth Avenue was scheduled for completion in 2011.

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