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US$100 million deal to save Pier 40 in Manhattan approved

In return, developer gets nod for vast 5-tower residential complex with retail and maybe hotel

Published Fri, Dec 16, 2016 · 09:50 PM
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New York

IT'S a twofer.

After years of negotiations and bickering, the New York City Council on Thursday approved plans to allow a developer to buy the air rights from a crumbling pier in Hudson River Park for US$100 million - money that will be used to keep the one-time cargo pier from falling into the water.

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