Roughly two dozen low-rise buildings, some with residents living inside, are scattered throughout the proposed Midtown East rezoning district, the New York Times reported. While some low-rise buildings in the area are on the list for demolition, some of these “dwarf” buildings may remain, even as developers erect skyscrapers nearby.
“Sometimes you find these quirky holdouts,” Andrew Dolkart, director of the historic preservation program at Columbia University, told the Times. “Somebody doesn’t want to sell these because they’re making a profit, or because it’s been in the family for decades, and how can I sell this property Grandpa assembled?”
One of the holdouts is the five-story 465 Lexington Avenue, owned by Sol Goldman Investments. This property is mixed-use, with three stories of residences and commercial space. The company also has two townhouses around the corner on East 46th Street, though the specific addresses were not available.
City estimates say the development plan would bring about 12 new commercial buildings to the area in the next 20 years. This would effectively replace 10 million square feet of older commercial space and add an additional 4.5 million square feet. [NYT] –Zachary Kussin