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Ratner Plans Demolitions as Critics Question Profit Projections

With his latest legal victory in hand, Bruce Ratner has filed for a series of demolition permits to begin clearing land in Brooklyn for the arena and a vast temporary parking lot for Net fans. Ratner owns or controls the vast majority of property at the site. Meanwhile, the Empire State Development Corp. released data on Ratner's projected profits on the $4.2 billion complex. They show an 8.4% return, which critics immediately questioned.