[C.]

The Port Authority voted Thursday to hold an international competition to design a new terminal building, with the projected $7 to $10 billion costs largely covered by the construction of a new tower at the current Eighth Avenue site. The new terminal building will occupy a site one block to the west of the existing terminal, which occupies 625 Eighth Avenue in Midtown.

The bistate agency plans to sell the air rights at the current terminal, and estimates that a new tower with condos and commercial space would cover two-thirds of the $10 billion terminal cost, the New York Post reported. According to Property Shark, 625 Eighth Avenue holds 2.3 million square feet of air rights.

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