Posted Apr 24, 2018, 2:58 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,619
|
|
https://nypost.com/2018/04/23/rezoning-likely-inspired-kushner-companies-park-avenue-bid/
Rezoning likely inspired Kushner Companies’ Park Avenue bid
By Steve Cuozzo
April 23, 2018
Quote:
|
The company, once again being led by founder Charles Kushner, has not said what it might do with the precious site at the southeast corner of Park and East 55th Street. As with other properties in East Midtown, its redevelopment value has soared thanks to a rezoning that allows larger buildings.
|
Quote:
“The big story is that East Midtown is ‘back’ because of the new zoning, JPMorgan Chase’s plans to redevelop 270 Park Avenue and SL Green’s One Vanderbilt,” said Cohen. “We expect the start of a new-development wave in the district, which is starving for new construction.”
Cohen speculated that ultimately, 417 and 405 Park “are perfect for a new, blockfront assemblage.”
No. 405 is a 175,000-square-foot office property that was sold last year to Deutsche Bank and MRP Realty. The partners said they plan to add four stories after buying 30,000 square feet of Grand Central air rights.
|
It's a small site, but the FAR would be 25.
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|