N080439 ZCM application for Certification by the City Planning Commission pursuant to Section 81-744(A) of the Zoning Resolution, permitting the transfer of 9,840 square feet of air rights from the Broadhurst Theater to 120 West 41st Street
WHEREAS, The Broadhurst Theater, located at 235 West 44th Street, is a legitimate theater listed in ZR §81-742 and is permitted by the terms of ZR§81-744 to transfer unused air rights to a development site within the Theater Subdistrict; and
WHEREAS, ZR§81-744(a) permits the transfer of unused air rights by certification of the Commissioner of City Planning provided that: (a) the amount of floor area to be transferred increases the amount of floor area allowable on the receiving site by no more that 20%; (b) the allowable floor area of the granting site is reduced by the amount of floor area transferred; (c) the owner of the granting site agrees to continue the use of the granting site as a legitimate theater for so long as the building constructed by using the transferred development rights is in existence; (d) and an amount of money equal to $14.91 for each square foot of development rights transferred is contributed to the Theater Sub-district Fund; and
WHEREAS, The Applicant has applied for a certification with regard to the transfer of 9,840 square feet of development rights from the Broadhurst Theater to a receiving site at 120 West 41st Street for a proposed new hotel building; and
WHEREAS, The proposed building is harmonious in design, will be 24 stories high or 272 feet, and have about 100 keys (rooms); and
WHEREAS, Because the Broadhurst Theater has previously transferred air rights pursuant to §ZR81-744(a), a Restrictive Declaration regarding the continuing use and maintenance of the building is in existence, and the theater has performed an updated Existing Conditions Survey; and
WHEREAS, The Theater Subdistrict Council has now been created to receive, manage and disburse funds paid to the Theater Subdistrict Fund: and
WHEREAS, The Applicant is required to contribute $141,346.80 to the Theater Subdistrict Fund pursuant to the application; therefore be it
RESOLVED, That Community Board Five recommends approval with regard to the Application for a certification by the City Planning Commission pursuant to ZR§ 81-744(a), permitting the transfer of air rights from the Broadhurst Theater to 120 West 41st Street.
The abover resolution passed by a vote of 29 in favor, 0 opposed, 1 abstention.