Big Step for Seagram

We’re a little late on this one, but last week the Landmark Preservation Commission approved RFR Realty’s plan under Section 74-79 of the city’s zoning text for its development at 610 Lexington Avenue. RFR is halfway home now–it now needs to get approval from the Department of City Planning to transfer air rights from the Seagram Building, at 375 Park, before construction begins.

Section 74-79 allows developers to transfer air rights from landmarked buildings as long as the upkeep of the landmarked property is guaranteed. RFR, which owns both the Seagram Building and 610 Lexington–it’s an old YWCA, for now–has agreed to maintain the property for perpetuity (which means, if it sells the building, its maintenance will be written into the deed).

The new 257,000-square-foot, 62-story building, if and when it’s built, will be residential condos and a hotel.

-Matthew Grace Big Step for Seagram