Quote:
Originally Posted by antinimby
I've always wondered why the Toys R Us site isn't redeveloped into a tall tower. Air rights used/sold?
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It almost was redeveloped, about 10 years ago.
BMG Group had an agreement to build an office tower, complete with connection to 1540 Broadway across the street, but the building owner decided at the last minute to tear up the agreement, and lease to Toys R Us.
It's a family owned site, and probably won't be redeveloped until the owner passes away. The family retains all the air rights.