Just How Much Is That Privately Owned Public Space Worth? Millions and Millions of Dollars, Probably

Matt Chaban — Thu, 12 Apr 2012 12:27:24 -0400

How much? (Getty)

Since Occupy Wall Street set up camp in Zucotti Park last fall, privately owned public spaces, or POPS, have gone from planners' secret sidewalks to every New Yorkers favorite hangout.

The New York World had the brilliant idea of quantifying just how valuable a few of the city's POPS are, and it turns out to be tens, and in some cases, hundreds of millions of dollars. Which gives lie to the argument that every time a landlord tries to keep people out, New Yorkers are seriously getting ripped off. Below is a sampling of the POPS and their sticker prices, about which you can find more details on The World's site.

1633 Broadway: $353 million
299 Park Avenue: $167.6 million
55 East 52nd Street: $76.1 million
455 Madison Avenue: $53.6 million
95 Wall Street: $20.7 million
1540 Broadway: $0 (the Bertelsman Building never used any of its applicable air rights)

mchaban [at] observer.com | @MC_NYC

Observer » Just How Much Is That Privately Owned Public Space Worth? Millions and Millions of Dollars, Probably

Just How Much Is That Privately Owned Public Space Worth? Millions and Millions of Dollars, Probably