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Now this is a wonder wheel.

The city has announced plans to build a 625-foot tall Ferris wheel on the the north shore of Staten Island, which will give riders a vast view of Manhattan's skyline.

The current record holder for tallest Ferris wheel in the world, the Singapore Flyer, is 84 feet shorter.

Mayor Michael Bloomberg said the New York Wheel will be an attraction "unlike any other on the planet."

"It will offer unparalleled and breathtaking views, and is sure to become one of the premier attractions in New York City," he said in a statement today.

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