City Officials and developer broke ground on the new One Vanderbilt office building and $220 million transit upgrade of Grand Central. On October 18, 2016, Mayor Bill de Blasio, Manhattan Borough President Gale Brewer, Congresswoman Carolyn Maloney and Council Member Dan Garodnick joined the developer SL Green for the on-site groundbreaking ceremony. The new office tower will reach 1,401 feet and cover the city block west of Grand Central. The tower is expected to achieve … <Read More>
Search Results for: Zoning and Investment
City Council Subcommittee and Land Use Committee Vote to Approve the Rezoning of Water Street’s Privately Owned Public Space With Modifications
The modified version requires a full public review process in order to infill the largest arcades covered by the proposed zoning text amendment. On June 15, 2016, the City Council Committee on Land Use voted unanimously to approve a modified version of an application submitted by the Alliance for Downtown New York, the NYC Economic Development Corporation, and the Department of City Planning to rezone the privately owned public space—colloquially known as “POPS”—on and surrounding … <Read More>
Land Use Committee Hears Testimony on Proposed Capital Commitment Tracking System
The proposed system would keep track of the financial and infrastructure-related promises made by the Mayor’s office to neighborhoods being rezoned. On June 7, 2016, the City Council Committee on Land Use held a public hearing on a legislative proposal to implement a tracking system, which would monitor the status of promises made to the public by the Administration during the Uniform Land Use Review Procedure process. The proposed bill, Intro 1132, is sponsored by … <Read More>
Land Use Committee Approves New Two-Lot Wide Building on Controversial Site
Developers spent months engaging local representatives and neighborhood residents to garner their approval before formally initiating ULURP process. On January 28, 2016, the City Council Land Use Committee unanimously approved an application to construct a mixed-use building at 146–150 Wooster Street, located in Manhattan’s landmarked SoHo Cast-Iron Historic District. 150 Wooster LLC, the project developer and subsidiary of KUB real estate investment and design firm, is the second owner to attempt to build a … <Read More>
Lawsuit Seeks Damages Over One Vanderbilt Agreement
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>
Complete Video from the East Midtown Rezoning Panel
On Thursday, July 16, 2015, the Center for New York City Law and Center for Real Estate Studies at New York Law School hosted a panel on the East Midtown rezoning. The panel consisted of Dr. Michael Horodniceanu of the MTA, Chris Sameth of Kuafu Properties, Jeffrey Holmes of Woods Bagot Architects, Dirk Hrobsky of DTZ, and was moderated by Manhattan Chamber of Commerce chairman Ken Biberaj. The keynote speaker … <Read More>