Owner of Grand Central Terminal claims violation of property rights, seeks $1 billion in damages. On September 28, 2015, Andrew Penson—the owner of Grand Central Terminal in the Midtown East neighborhood of Manhattan—initiated a lawsuit against New York City for allegedly unlawfully taking Grand Central’s air rights from him for the benefit of SL Green Realty Corporation without just compensation, which is a violation of the Fifth Amendment of the United States Constitution. The complaint … <Read More>
Search Results for: Property Rights
A Better Path for East Midtown
Early in January 2017 the City of New York began the official public approval process for a proposal to rezone East Midtown Manhattan. The proposal was based in part on a report by the East Midtown Steering Committee co-chaired by the Manhattan Borough President Gale Brewer and the District 4 Council Member Daniel Garodnick.
The new 2017 proposal is the third proposal for rezoning East Midtown. In 2013 the Bloomberg Administration proposed to rezone East … <Read More>
City Planning Approves One Vanderbilt Project With Modifications
The application seeks to rezone five blocks along Vanderbilt Avenue to permit construction of a new commercial tower. On March 30, 2015 the City Planning Commission approved SL Green’s proposal to build One Vanderbilt, a 1,450-foot commercial tower, and establish the five-block Vanderbilt Corridor. The building will be located on the block adjacent to Grand Central Terminal, bounded by East 42nd Street to the south, East 43rd Street to the north, Madison Avenue to … <Read More>
City Planning Holds Hearing on One Vanderbilt Proposal
Representatives from the project developers, Grand Central Terminal, and private citizens argued the proposal. On February 4, 2015 the City Planning Commission held a public hearing on the proposed One Vanderbilt skyscraper project. The proposed building would be 1,450 feet high and take up a block bounded by Madison Avenue to the west, Vanderbilt Avenue to the east, 42nd Street to the south, and 43rd Street to the north. The project would also include transit … <Read More>