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Iconic NYC Cathedral to Sell Air Rights Thanks to Midtown East Rezoning

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The Archdiocese of NY is preparing to sell the air rights to St. Patrick’s Cathedral on Fifth Avenue between 50th and 51st Street. As reported by Crain’s NY, in the coming weeks the church is expected to submit its plans to the Landmarks Preservation Commission and a community board. Previously, landmarks were only permitted to sell their air rights to developers whose properties were next door, across the street, or catty-corner. Usually the properties immediately adjacent to landmarks were already built-up to their zoning capacity, so landmarks rarely had the opportunity to cash out on their air rights.

In August 2017, the City Council voted to approve the rezoning of Midtown East. The rezoning allows landmarked buildings to sell their air rights to developers looking to build upwards anywhere within the rezoning district, which is a 78-block stretch bounded roughly by East 39th and East 57th streets and Third and Fifth avenues.

The rezoning is not just a lucky streak for the church, but has been actively sought for years. As per the NY Times, since 2014 the archdiocese paid $320,000 to a consulting firm to lobby for the rezoning. They even handed out pamphlets for this cause at Madison Square Garden during Pope Francis’s 2015 speech.

As part of the rezoning requirements, the archdiocese’s plans must include a maintenance plan indicating how profits from any sale will be utilized for upkeep of the cathedral. “A continuing maintenance plan is required in order to pursue an air-rights transfer pursuant to the new Midtown rezoning plan,” said an Archdiocese spokesman, in a statement. “And we are getting the cathedral in a position to act on a transfer if one should be presented.”

The St. Patrick’s Cathedral is not the only one gearing to cash in on the rezoning. On Wednesday, JP Morgan Chase announced that it will demolish its headquarters at 270 Park Avenue to make way for a larger, 2.5-million-square-foot office tower. The controversial expansion is possible because of the rezoning.

By Hellen Zaboulani

 

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