Richard Branson to Kick Off Virgin Hotel Chain in New York?

REAL ESTATE
• Thousands of New York City Housing Authority units have been empty for years despite a list of nearly 130,000 low-income New Yorkers waiting for an apartment. [NYDN]
• Richard Branson has plans to develop a W-esque Virgin hotel in New York. [Hotel
Chatter
]
• WNYC is leaving the Municipal Building, it's home of 84 years. [NYT]

FINANCE
• Today in Lehman Brothers: The bank is considering releasing its second-quarter earnings a week early — and tying that announcement to news about a plan to raise capital. [NYP]
• UBS' wealthy clients are running scared as federal authorities are intensifying an investigation into offshore bank accounts. [DealBook/NYT]
• Just seven months after TPG Capital and an arm of Goldman Sachs acquired Alltel, the private-equity firms flipped the wireless carrier to Verizon in a deal that will earn a profit of $1.3 billion, which is a 28 percent return. [WSJ]

MEDIA
• Who has taken the New York Times up on its buyout offers so far? Here is the definitive list. [FishbowlNY/Mediabistro]
• A glossy new magazine called Manhattan is set to invade Manhattan in the fall and we're supposed to be all nervous … yawn. [NYP]
• NBC wraps up its upfront having sold $1.9 billion in ad deals for the upcoming TV season, which is up from the $1.8 billion it sold during last year's upfront. [NYP]

LAW
• Bill Lerach, who is currently serving a 24-month sentence in the clink, wants to enter a prison alcohol-treatment center. [NYS]
• Jeremy Pitcock, the former head of intellectual property at Kasowitz, Benson, Torres & Friedman, filed a defamation lawsuit against the firm seeking more than $90 million. [Law.com]
• Cablevision's compensation consultant, Harvey L. Beneson of New York firm Lyons Beneson & Co., is being forced to pledge the mortgage on his Bridgehampton home in order to cover a $2 million loan he is on the hook for as part of his role in the company's "backdating" scandal. [NYP]