Toll Brothers purchases New York property

A sign for Toll Brothers is seen outside their offices in Horsham, Pa., Tuesday, June 3, 2008. Toll Brothers says hefty write-downs on the value of land joint ventures drove the luxury homebuilder to a second-quarter loss, but results topped Wall Street expectations. (AP Photo/Matt Rourke) (AP Photo/Matt Rourke)

October 14, 2010 8:00:03 AM PDT
Toll Brothers Inc. plans to build a luxury residential building on a piece of property on the Upper East Side of Manhattan that it recently purchased.