WPCNR Main Street Journal. November 18, 2004: Louis Cappelli and Martin Ginsburg announced they have reached agreement by which Mr. Cappelli, owner of Cappelli Enterprises, one-third owner of Empire Resorts, (the soon-to-be-casino baron of the Catskills), would sell Mr. Ginsburg the Nook-Deli-Bookstore corner on Main Street and City Place, in return for Mr. Ginsburg lowering the height of his Pinnacle Building to 230 feet from previously planned height of 280 feet.

PINNACLE WOULD NOT BLOCK VIEWS OF THE CITY CENTER CITADELS. Photo of Main Street looking West. Pinnacle would situate approximately between the two towers midway down block.  Photo, WPCNR News Archive.

The objective of the deal is to prevent the views from Cappelli's Trump Tower at City Center and One City Place from being obstructed. The agreement was announced by Mr. Cappelli  for the first time November 8 to the CitizeNetReporter, denied by Mr. Ginsburg's spokesman to WPCNR last Saturday, then announced again yesterday by both developers to the print media.

PINNACLE LOPPED OFF: The original Pinnacle design presented October 26 to the Common Council. The "Chrysler Building of White Plains," as dubbed by its creator Martin Ginsburg, will be redesigned. It is planned to be buildt adjacent and East of  City Center. Photo, WPCNR News Archive.

It is being reported that the 148-unit condominum Pinnacle will now be a 132-unit building, 21 stories instead of 148 units, 24 stories.  Persons familiar with the new design at Ginsburg Development Corporation told WPCNR last week the building would be squatter and wider and retain the same design.

Mr. Ginsburg however has announced that he will not set aside units for affordable housing, and wishes to pay a fee in lieu of setting aside affordable housing units in the Pinnacle condoplex. A formal policy has yet to be officially adopted by the Common Council on exactly the options available to condominium builders to satisfy the Council quest for affordable housing units, and what the fee structure would be for the half-million to $2.5 Million units.

Louis Cappelli Gala Diplomacy in Action: Louis Cappelli, center and Martin Ginsburg facing the WPCNR Roving Photographer at White Plains Performing Arts Center Gala last week, when Mr. Cappelli first revealed the Cappelli Ginsburg accord on The Pinnacle. Photo, WPCNR News Archive.