City Tax Appeals Tribunal determined transfer was not eligible for special reduced rate. One Park Avenue Mezz Partners LLC, a subsidiary of industry giant Vornado Realty Trust, held a 100 percent equity interest in a commercial building located at One Park Avenue in Manhattan. In March 2011, while looking to refinance the building, Vornado had that equity interest transferred in full to two new subsidiary real estate investment trusts. The compensation was roughly $5.6 million … <Read More>
Search Results for: Building Definition
Court of Appeals Allows Historic Clock to be Closed to the Public and Converted
Landmarks acted within its authority when it approved the LLC’s certificate of appropriateness. On March 28, 2019, the New York Court of Appeals ruled that the Certificate of Appropriateness granted the Landmarks Preservation Commission for 346 Broadway in 2014 was proper, reversing two lower courts’ decision. In 1987, the Landmarks Preservation Commission designated 346 Broadway as an interior landmark. The designation included the building’s banking hall and the 13th floor clock tower, which houses … <Read More>
Residents Prevent Development in Fight Over Open Space
Appellate Division finds that Buildings improperly issued construction permit for nursing home after misinterpreting the zoning resolution. Park West Village is a complex located on a superblock bounded by West 100th Street to the north, West 97th Street to the south, Columbus Avenue to the east, and Amsterdam Avenue to the west on the Upper West Side of Manhattan. The complex was built in the 1950s and 1960s as part of a federally … <Read More>
Challenge to Permits Issued by Landmarks Fails on Appeal
Preservationists renewed challenge to LPC permit for redevelopment of 5-building blockface in Gansevoort Market Historic District. In June of 2016, the Landmarks Preservation Commission voted to award Certificates of Appropriateness to developer 60-74 Gansevoort Street to redevelop five buildings in the Gansevoort Market Historic District. The work planned encompasses an entire blockfront composed of three tax lots between Greenwich and Washington Streets. The project entails the construction of new 82-foot-tall building replacing a former … <Read More>
Court Rules Permit to Disconnect Historic Clock was Irrationally Issued
Landmarks permit that would have seen designated interior converted to inaccessible private residence, and historic clock mechanism disconnected, is ruled to have been issued irrationally and influenced by erroneous legal counsel. The Landmark Preservation Commission designed spaces in the former New York Life Insurance Building, located at 346 Broadway, constructed in 1894 to 1898, as an interior City landmark in 1987. The designation included the 13th floor clock tower, which held the four glass clock … <Read More>
Owner Defeated Tenants’ Loft Claim
Tenants sought loft law protection by claiming that two attached structures on one zoning lot were two separate buildings. A two-story building was constructed at 538 Johnson Avenue in the Williamsburg section of Brooklyn in 1916 using timber and wood planking. A four-story building was constructed adjacent at 75 Stewart Avenue in 1919 using concrete columns, beams and slabs. The four-story structure abuts the eastern wall of the two-story structure, and the stairwell in the … <Read More>