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Article: Grand Central subdistrict created. (Grand Central Terminal possesses 1.7 million square feet of development rights for use)
- Article from:
- Real Estate Weekly
- Article date:
- July 22, 1992
CopyrightCOPYRIGHT 1992 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Grand Central Terminal, a designated New York City landmark, has over 1.7 million square feet of unused development rights. The Grand Central Subdistrict, which extends from East 41st to 48th streets from the midblock west of Madison Avenue to the midblock east of Lexington Avenue, would increase the number of sites available to receive development rights from the terminal. The boundaries of the Subdistrict reflect the unique and extensive surface and subsurface pedestrian circulation network radiating out from the terminal and relieving congestion on the ...
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