••• “An underground leak has been discovered within the World Trade Center complex—and officials fear the seepage may be coming from the slurry wall that separates the newly rebuilt Ground Zero site from the Hudson River [….] Workers began to hear the sound of rushing water behind the walls of lower concourses of the complex within the last two weeks.” —DNAinfo

••• Crain’s says Fairway is in rough shape, but the plans for a Tribeca store are still on….

••• “Westbrook Partners paid more than $200 million to buy out a partner, Fortress Investment Group, to take a controlling ownership stake in St. John’s Terminal, a 1.1 million-square-foot office property at 550 Washington St. The deal values the four-story, three-block-long building at about $650 million. […] According to sources familiar with St. John’s Terminal, Westbrook has been eager to gut-renovate it, or potentially knock it down and erect new buildings. Sources say the firm is interested in adding residential spaces to the property, but it would need to obtain city approval to do so. Currently, St. John’s Terminal is zoned for office and hotel use.” That’s the big building that Houston Street goes through; it’s where the Hudson River Park Trust has been angling to sell its Pier 40 air rights. —Commercial Observer

••• Meet Jonathan Boulware, director of the South Street Seaport Museum. —Wall Street Journal

••• “A new two-screen arthouse cinema, capable of playing 35 millimeter and digital films, is set to open on the Lower East Side early next year [….] Called Metrograph, the theater is the brainchild of Alexander Olch, a film director and designer of menswear accessories. He owns a boutique one block from where the new theater is being built, out of an old warehouse on Ludlow Street at Canal Street. A restaurant, lounge and bookstore are also planned.” —New York Times