The zoning lot tricks that made Mitsui Fudosan, SJP’s 51-story UWS project possible

Developers benefit from the drawing of creative geographical boundaries

New York /
Apr.April 11, 2017 05:49 PM

Politicians aren’t the only people who gerrymander. Developers are also embracing the practice of drawing creative geographical boundaries to fit their interests, as the example of one Upper West Side zoning lot shows.

Mitsui Fudosan and SJP Properties are able to build a 668-foot-tall condo tower at Amsterdam Avenue and 69th Street because its zoning lot covers several separate parcels connected by thin slivers of land, Crain’s reported.

The site’s previous owners expanded the zoning lot to more than 100,000 square feet by buying air rights from nearby properties. The planned tower’s actual physical footprint, in contrast, will be a mere 10,800 square feet.

“Whoever thought this up is very creative,” planning consultant George Janes told Crain’s.

SJP and Mitsui Fudosan bought the parcel at 200 Amsterdam Avenue for $275 million in 2015 and filed plans for a 51-story, 112-unit tower a year later. [Crain’s] — Konrad Putzier


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Toby Moskovits pitches Bronx project rescue, financed by [redacted]
Toby Moskovits pitches Bronx project rescue, financed by [redacted]
Toby Moskovits pitches Bronx project rescue, financed by [redacted]
CoStar CEO Andy Florance
CoStar comes home to play
CoStar comes home to play
 356 Fulton Street in Brooklyn and Feil Organization CEO Jeffrey Feil (Google Maps)
Biggest project filings: Developers propose 1,500 apartments in Gowanus
Biggest project filings: Developers propose 1,500 apartments in Gowanus
CEO Mahbod Nia
Mack-Cali rebrands as Veris Residential, signifying shift in focus
Mack-Cali rebrands as Veris Residential, signifying shift in focus
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
Italians under indictment bought more than 130 South Florida homes: Pandora Papers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...