Grand Central air rights could trade

July 06, 2007 12:00AM

Argent Ventures, which bought the land under Grand Central Terminal and all its unused air rights last year, may soon sell some of those air rights to property owners near the landmark transit hub. Broadway Partners, for example, may seek to buy air rights from Argent in order to more than double the size of 237 Park Avenue. Broadway’s 21-story office tower, which it purchased for $1.18 billion earlier this year, could be built to more than 50 stories if it had another 700,000 feet of air rights. more [Post]

Comments are closed.