NEW YORK | 3 East 54th Street | FT | FLOORS

[ChiND]

Originally Posted by NYguy

Yes, they can. City of Yes rezoning.

Does that apply though if Vornado builds condos at that site? I can't imagine that there will be rentals with affordable units in that location.

[NYguy]

Originally Posted by ChiND

Does that apply though if Vornado builds condos at that site? I can't imagine that there will be rentals with affordable units in that location.

With regards to the transfer of air rights, the boundaries have been extended.

[ChiND]

Originally Posted by NYguy

With regards to the transfer of air rights, the boundaries have been extended.

That's good news. I walked by recently, and the demo nets have fully covered both structures.

[ChiND]

The garage is closed, and the whole parcel is covered with demo netting and boarding.

NYGuy: How tall do you think a residential tower here could be? If Vornado could build a 900 foot tower with park views, this would yield very high demand, particularly given the paucity of new condos.