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Old Posted Dec 4, 2015, 8:56 PM
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NYguy NYguy is offline
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Join Date: Jul 2001
Location: Borough of Jersey
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Quote:
The Vanderbilt corridor may be getting a new tower on a site no one expected to be redeveloped so fast.

Shrewd Howard Milstein is now focusing on designing and developing a completely new modern tower at 335 Madison Ave. that would take advantage of the new Vanderbilt corridor zoning boost, The Post has learned.

Some sources have indicated that Milstein, harkening back to its location and history, would like to include a “high end” hotel as part of the new plans.

To make his dream development happen, Milstein may try to tie up most, if not all, of the 1,224,109 million square feet of transferable development rights (TDRs) held by Andrew Penson through his ownership of Grand Central Terminal.
We'll see.
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