You crazy, Skip! --- In AsburyPark@yahoogroups.com, "Skip Bernstein" <[EMAIL PROTECTED]> wrote: > > "This the same guy, Daniel F. Sciannameo, that John Loffredo made > faces & spoke against at the last council meeting, asking Mr. Reidy > do we have to use his free help to get more money for the triangle." > > Sure sounds like 'our' guy, but what the hell, when we've got high > priced talent the likes of Loffredo who needs Dan? > > > --- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote: > > > > Group, > > This the same guy, Daniel F. Sciannameo, that John Loffredo made > faces & > > spoke against at the last council meeting, asking Mr. Reidy do we > have to use > > his free help to get more money for the triangle. > > > > > > > > $430 a Square Foot, for Air? Only in New York Real Estate > > > > By _CHARLES V. BAGLI_ > > (http://query.nytimes.com/search/query?ppds=bylL&v1=CHARLES V. > BAGLI&fdq=19960101&td=sysdate&sort=newest&ac=CHARLES V. > > BAGLI&inline=nyt-per) > > > > Published: November 30, 2005 > > > > The price of air has gone up in _Manhattan_ > > > (http://topics.nytimes.com/top/classifieds/realestate/locations/newyor k/newyorkcity/manhattan/?inline=nyt-geo) > > > . > > It's now $430 a square foot. > > Two New York City developers have agreed to pay a record-setting > amount for > > "air rights" so they can build a 35-story apartment tower with views of > > Central Park from the high floors. > > The brothers William L. and Arthur W. Zeckendorf are set to pay $430 > per > > square foot - more than twice the going rate - for unused air rights > over Christ > > Church and the Grolier Club at Park Avenue and East 60th Street. Christ > > Church will collect more than $30 million; Grolier will get about > $7 million. > > Air rights allow developers to build taller by buying the space over > > low-scale buildings and transferring it (on paper, if not in > reality) to spaces over > > adjacent buildings. Although such transfers occur elsewhere in the > country, > > the prices do not run as high as they do in Manhattan, which, after > all, is an > > island and generally provides developers with one option: up. > > The rights will be transferred to a site west of the Grolier Club on > East > > 60th Street, where the Zeckendorfs and their partners own three > tenements that > > are to be demolished. > > If it all goes as planned, the developers will be able to build a > taller > > tower than the zoning ordinarily allows. In a separate deal with > Christ Church, > > the tower will also have a coveted Park Avenue address, despite its > location > > on 60th Street. > > The Zeckendorfs are third-generation developers. The brothers > disagree with > > experts who warn about a bursting housing bubble, at least when it > comes to > > what the Zeckendorfs call "super prime" areas. > > "We want to concentrate on the very high-end market where we see > tremendous > > strength and a limited inventory," Arthur Zeckendorf said. > > M. Meyers Mermel, a real estate broker and a trustee of Christ > Church who > > helped negotiate the deal, said the money would help sustain the > Methodist > > church's programs. Carolyn L. Smith, president of the Grolier Club, > a storied > > society of bibliophiles, confirmed that her club voted on Monday > night to > > approve the deal. > > Previously, New York appraisers say that the high end for the price > of air > > hovered around $200 a square foot. > > "Nothing shocks me anymore," said Daniel F. Sciannameo, an > appraiser at the > > Albert Valuation Group. "This market is absolutely crazy." > > >
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