LES co-op discovers $100M asset

April 27, 2010 12:09PM

A Lower East Side co-op complex has discovered that it is in possession of one million square feet of air rights, a “previously unknown asset” valued at $100 million, a memo distributed by the co-op board to the residents said, according to Curbed. While the value of the land rights at Seward Park, located at 264 East Broadway between Clinton and Montgomery streets, is still an estimated figure, it could bring in big bucks if the board decides to sell the rights. No word yet on what the board’s next move will be. [Curbed]


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