Property News · August 1, 2017

New York to re-zone East Midtown, but new towers may be some way off


A five-year effort to spur development of new skyscrapers in midtown Manhattan is set to clear its final hurdle. But don’t expect a building boom anytime soon.
The New York City Council’s zoning subcommittee on Thursday approved an ordinance that would rezone 78 blocks between East 39th and East 57th streets to allow for bigger and taller buildings. Its land-use committee is scheduled to vote on it later in the day. The full council, which usually adheres to the committees’…

Source : South China Morning Post
Read more…New York to re-zone East Midtown, but new towers may be some way off

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