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One Vanderbilt May Get a Massive New Neighbor

Developer Howard Milstein is thinking of getting the most out of the new Vanderbilt corridor zoning boost by replacing the 1.1M SF tower at 335 Madison Ave with a newer, taller, and slightly larger modern tower, reports the New York Post. Sources hint that the new building, next to SL Green’s planned 1.8M SF One Vanderbilt, could include a high-end hotel. Before the Milstein family built the current structure, the site was home to a 1913-era Biltmore Hotel with Turkish baths, a rooftop ice skating rink in winter, and restaurants like the Palm and the Cascades. The famous Biltmore lobby clock remains in the lobby of the office building today. Some suspect Milstein could try to get most or all of the 1.2M SF of transferable development rights from Grand Central owner Andrew Penson, to make this a reality. [NYP]

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson
Marriott International
Mike Gill
The State of Maryland
Barry Glassman
Glassman Wealth Services