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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
Add BT as a preferred sourcePublished Fri, Dec 16, 2016 · 09:50 PM
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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