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Originally Posted by Zapatan
hmmm, yea, I hope that shouldn't be taken too seriously, because if it is, bad news.
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It's nothing new, it's just how
some people feel about the rezoning, that it isn't ambitious enough. Also, the City isn't just rezoning the area for free, developers will have to pay up. So of course, some will grumble.
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Robert Lapidus, president of L&L Holding, which is planning to develop an office tower at 425 Park Avenue in the middle of the proposed zone, predicted Bloomberg’s attempt to spur Midtown East development would ultimately fail or be so watered down as to have little impact.
Another panelist, Leslie Himmel, a partner with property owner Himmel + Meringoff, backed the plan but said it would be years before the impact was felt. “I think it may take a decade or two for an effect to happen. I agree in the short run it may not have a big effect,” she said.
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The zoning doesn't go into effect for five years, but there are many potential developers and developments. But obviously, we've already begin to see potential moves in play.