SUBSCRIBERS
NY's latest property buzz: US$240m for air space
Deals for air rights - in which value is assigned to the space between a roof and the tallest permissible building height - are set to transform an area recently rezoned as Midtown East
Add BT as a preferred sourcePublished Sun, Mar 4, 2018 · 09:50 PM
New York
THE gold rush is on.
The owners of Grand Central Terminal are selling air rights for about US$240 million to JPMorgan Chase so the bank can build its new midtown Manhattan headquarters, according to executives who have been briefed on the deal.
Share with us your feedback on BT's products and services
