Quote:
Originally Posted by NYguy
That building, like 270 Park, sits on a split-zoned site (25-23 FAR). The average of 24 is slightly more than what 270 has. Residential development can be no more than 20% of any development in midtown east to take advantage of the rezoning. Any hotel space would have to recieve a special permit, even if the site previously had a hotel.
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81,000 sf lot by 24 FAR = 1.944,000 msf (minus any mechanical) making any redevelopment there another 2.5 msf + blockbuster.