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Old Posted Jun 5, 2012, 12:45 PM
Crawford Crawford is offline
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Join Date: Nov 2003
Location: Brooklyn, NYC/Polanco, DF
Posts: 22,756
Quote:
Originally Posted by Zapatan View Post
How do they intend to build a building well over 1000 feet with only 1.2msf. I'm assuming they'll add more?
The 1.2 million square feet is the current "as of right".

The area is being signficantly upzoned, however, and there are considerable air rights available for purchase from Grand Central Terminal.

It also looks like they're planning a significant transit connection with Grand Central, and the various subway lines. If they invest in a major connection, they will likely get additional air rights (as with Vornado's planned 15 Penn Plaza tower).