Below is the CNN version, Dan included. Hey Dan: How does this work in big time journalism - Did CNN do their own story and call you too, or are they just grabbing the work the NY Times did? Are they owned by the same company maybe?
Price of air hits record in New York Real estate developers agree to pay $430 a square foot for 'air rights,' twice the going rate. November 30, 2005: 12:45 PM EST NEW YORK (CNNMoney.com) - Two New York City developers have agreed to pay a record price for "air rights" to build an apartment building with views of Central Park, according to a report Wednesday. The developers, brothers William and Arthur Zeckendorf, will pay $430 a square foot, more than double the going rate, for air rights over Park Avenue and East 60th Street, the New York Times reported. Buying the air rights over low-scale buildings, the developers will be able to build up. The 35-story apartment tower will be taller than the zoning ordinarily allows, the paper said. "We want to concentrate on the very high-end market where we see tremendous strength and a limited inventory," Arthur Zeckendorf told the paper. Previously, the high end for the price of air rights was around $200 a square foot, the paper said, citing New York appraisers. "This market is absolutely crazy," Daniel Sciannameo, an appraiser at the Albert Valuation Group, told the Times. The market for air rights has been an odd feature of the New York real estate market for decades. ------------------------ Yahoo! Groups Sponsor --------------------~--> Fair play? Video games influencing politics. Click and talk back! http://us.click.yahoo.com/u8TY5A/tzNLAA/yQLSAA/Y2tolB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
