Due to continuing opposition from the community, Zuckerman downsized the proposal so that the towers were 58 and 68 stories high. In January 1988, Salomon Brothers withdrew from the project due to the October 1987 stock market crash. After Zuckerman threatened to sue Salomon Brothers, they reached a settlement of between $55 million and $60 million. In December 1987, a state court ruled that the proposed building violated the city's own zoning ordinances and nullified the sale. New York City and Boston Properties renegotiated the deal to call for a 52-story structure with a reduced price of $357 million for the site. Boston Properties tapped David Childs to redesign the building. In the interim, the MTA, seeking to make some use of the site once the future of the Boston Properties site became unclear, reopened the Coliseum on an interim basis in 1992 for smaller events, primarily a thrice-a-year antiques show. Some homeless individuals also squatted at the building when it was abandoned.
