East Midtown Rezoning: Looking For Extra Zoning Rights? They’re For Sale

A disarmingly simple plan for rezoning Manhattan’s office district running from Grand Central Terminal north to about 58th Street has been approved by the Planning Commission and will come to a Council vote around the time of the November election.

It has three key components:  1) The City almost doubles the allowable floor area for new buildings on large sites along the major thoroughfares; 2) it sells to the landowner the right to build the … <Read More>