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$430 a square foot for air. Only in New York.
Two New York City developers have agreed to pay a record-setting
amount for "air rights" so they can build a 35-story apartment tower
with views of Central Park from the high floors.The
brothers William L. and Arthur W. Zeckendorf are set to pay $430 per
square foot - more than twice the going rate - for unused air rights
over Christ Church and the Grolier Club at Park Avenue and East 60th
Street. Christ Church will collect more than $30 million; Grolier will
get about $7 million.
Damn, I knew I should have started buying up air in the nineties! What the hell was I thinking? First my parents didn’t get Microsoft stock in the 70’s and now I missed my chance to buy up NYC air. Dammit.
$430 a Square Foot for Air? Only in New York Real Estate [NYT]
—admin
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