The city has released its long-awaiting Midtown East Rezoning plan, a controversial upzoning of the area bound by Madisonand Third Avenues and 39th and 50th Streets, which would encourage taller, more modern office towers in an area that many feel is no longer attracting commercial tenants. According toCrain’s, their proposal, the first step in the formal rezoning process, would allow the tallest buildings around Grand Central, increasing the maximum density by 30 percent. Along Park Avenue and near subway stations north of the Terminal, density would be increased, too. The proposal also will permitowners of landmarked buildings to sell their air rights across the district, rather than just toadjacent properties like the current law dictates.
Rezoning plan could add 16 new towers to Midtown Manhattan
CityRealty
