re: #583 lawhawk

One of the big stories in NYC real estate circles is Bloomberg’s efforts to rezone a whole bunch of Midtown around Grand Central. It would open up the area to a ton of new skyscrapers, but it could mean that some of the older buildings would go by the boards (changing the FARs and shifting air rights could enable towers to rival the Empire State Building for tallest in midtown).

The rezoning could be a boon to city coffers and enable a new generation of Class A office space, plus new residential in the city core.

The City has already seen some of the fruits of rezoning in places like Dumbo and Williamsburg where the industrial zones have turned into commercial and residential hubs.

In 1965 I lived in a 35.00/wk boarding house, a single-brownstone slum, at 39th and Park. If the Chrysler Bldg had fallen, it would have come in my window. The land must be $Zillion/inch by now.