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City Planning Commission Ok’s Midtown East Rezoning

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City Planning Commission Ok’s Midtown East Rezoning

Yesterday the City Planning Commission gave the go-ahead for SL Green to build its 64-story, 1.6M SF One Vanderbilt office tower in Midtown East, along with a rezoning of five blocks north of Grand Central Terminal. SL Green’s chipping in around $210M for infrastructure upgrades to the terminal. CPC chairman Carl Weisbrod said the tower will be the first new office space in at least a decade in the area around GCT, The Real Deal reports. The plan, which goes up for a final up-down vote before the city council in May, doesn’t sit well with Argent Ventures CEO Andrew Penson, owner of GCT. He’s argued that the city’s “unconstitutionally taking” his air rights. [TRD]