Well known and respected, real estate company Boston Properties, Inc, whose holdings and business interests run the gamut from Boston, New York, particularly Midtown Manhattan, the nations capital, Washington, D.C., San Francisco and Princeton, N.J. suspended construction on its new project at 250 West 55th Street in New York City.

A large law firm which was scheduled to be one of the tenants of the yet unfinished building, backed out of their agreement as they will be unable to hold up their end of the agreement.

The multi- million dollar office building’s construction, due to be finished by 2011, will resume as soon as the company deems it viable to do so. They will end up saving around 450 million dollars in capital outlay for the fiscal year. The company is also studying the overall impact this will have on earnings and share prices, and will release a report on its findings as soon as feasibly possible.

Boston Properties is one of the bigger real estate companies in the United States and is engaged in all aspect of buying, selling, developing properties, as well as managing them, they specialize in high end office spaces.