"Bloomberg's new New York headquarters is rising on the former Alexander's site on 58th and Lexington Avenue. The developer, Vornado Realty Trust, began construction on the building in July 2001. Bloomberg estimates its occupancy to begin in January 2005. The building will reach more than 850 feet in height totaling 52 stories. Bloomberg will be the anchor tenant with more than 4000 New York employees, customer training and state-of-the-art broadcast facilities."