<< Back
Landmarks
110 East 42nd Street, application for a certificate of appropriateness for facade restoration together with request for a report pursuant to Z.R. Section 81-631 (Grand Central Subdistrict transfer of Development Rights) to permit transfer of up to ...
110 East 42nd Street, application for a certificate of appropriateness for facade restoration together with request for a report pursuant to Z.R. Section 81-631 (Grand Central Subdistrict transfer of Development Rights) to permit transfer of up to 112,000 square feet of unused development rights from 110 East 42nd Street to 317 Madison Avenue.
WHEREAS, 110 East 42nd Street, a/k/a 110-120 East 42nd Street and 107-115 East 41st Street, (formerly the Bowery Savings Bank headquarters) has been an individual interior and exterior Landmark since September 21, 1993, built in 1921-23 with an addition built in 1931-33, designed in the Italian Romanesque style by the distinguished architectural firm, York & Sawyer; and
WHEREAS, The NYC Planning Commission subsequently incorporated this landmarked building into the Grand Central Zoning Subdistrict ("GCZS"); and
WHEREAS, The ownership of the entire building was transferred into a condominium splitting the property ownership into different segments, namely the office tower portion, the imposing banking hall and adjacent office space above it (all owned and occupied by the Cipriani interests and operated by them as a catering and event space) and the garage portion of the building entered on East 41st Street;
WHEREAS, The Applicant, the current owner (an entity controlled by S.L. Green) of the office tower portion of the condominium has the exclusive right to use the unused development rights associated with the entire building; and
WHEREAS, Individually landmarked properties within GCZS (in addition to Grand Central Station for which the GCZS was originally created) are permitted to transfer their unused development rights to other locations within the GCZS provided they meet certain criteria; and
WHEREAS, The Applicant is seeking a Report from LPC allowing it to transfer up to 112,000 sq. ft. of unused development rights from 110 East 42nd Street to a receiving site, 317 Madison Avenue, both within the GCZ S pursuant to Sections 81-631 and 81-635 of the Zoning Resolution; and
WHEREAS, 317 Madison, the receiving site, is actually three separate adjacent buildings all also controlled by S.L. Green, constituting most of the block at the east side of Madison Avenue at East 42nd and East 43rd Streets; and
WHEREAS, 317 Madison still has many tenants and leases and is not ready for demolition and new construction at this time, the Applicant has not prepared designs for the receiving site; and
WHEREAS, Ongoing negotiations have been difficult with the Cipriani interests which must consent to and cooperate for certain restoration work as it affects the entrance and facade at their level of the condominium building, which is required by in order for LPC to issue its Report to the Department of City Planning to approve a Special Permit for the transfer under Section 81-635 of the Z.R.; and
WHEREAS, The Applicant believes that it has concluded a successful agreement with the Cipriani interests which may not be the case in the future if it waits to be closer to re-development of 317 Madison; and
WHEREAS, There are reported Violations relating to destruction of portions of the interior (reportedly removal of certain teller windows) of the Landmark caused by Cipriani, over which the Applicant had no control, but the Applicant is willing to take full responsibility to cure; and
WHEREAS, The Applicant is required to demonstrate that there is a harmonious relationship between the receiving site and the Landmark; and
WHEREAS, Since the receiving site is somewhat distant and any future building does not appear to be of sufficient size or bulk to constitute a disharmonious building since the 112,000 sq. ft. would add only six floors of equivalent bulk to a building of not more than 28 floors, but which may be greater depending on the massing to be determined by the design of the proposed new construction at 317 Madison Avenue; and
WHEREAS, The applicant will present the design of the proposed new building to Community Board 5 for review to determine whether it is harmonious with the contributing Landmark at 110 East 42nd street prior to coming to the Community Board 5 Land Use and Zoning Committee for consideration of the Special Permit required for the new Construction; and
WHEREAS, The Applicant is applying to LPC for a C of A to restore the exterior of the building by cleaning, pointing and repairing masonry; painting and weatherizing other elements of the facade; restoring storefronts and entrances to the building, including doors and adjacent side panels; lightening statuary bronze as set forth in the Restoration Plan prepared by applicant's consultants, Higgins & Quasbarth, a copy of which is attached hereto; and
WHEREAS, The Applicant is required to provide LPC with a Maintenance Plan to keep the building in first class condition, which will run with the ownership in perpetuity, for 110 East 42nd Street, which has not been written yet but is considered rather routine for this type of transfer; therefore be it
RESOLVED, Community Board 5 recommends approval of the application for a C of A for facade restoration together with approval of a request for a Report pursuant to Z.R. Section 81-631 to permit transfer of up to 112,000 sq. ft. of unused development rights from 110 East 42nd Street to 317 Madison Avenue, including a representation that the Applicant will assume full financial responsibility to restore any damage or destruction in the interior of the Landmark space which may constitute a Violation.