Real Estate Alert

April 2015

A Proposal to Expand the Madison Square North Historic District
Last month, the Community Board and Landmarks Committee of Community Board Five affirmed its support for a proposal to expand the Madison Square North Historic District, which was designated in June of 2001 and includes portions of seven city blocks at and around the northwestern corner of Madison Square Park.

Presented by a community group called the Madison Square North Property Owners Coalition, the proposed expansion would appear to more than double the size of the District, extending south to 24th Street, north to 33rd Street and east to Park Avenue. The new boundaries would include an additional 286 buildings, spanning nearly a century of midtown development, the significance of which is purportedly consistent with the rationale for the original designation.

This item could be back before the Community Board in the coming months, as the Coalition continues to marshal support and guide the proposal through the City's landmark approval process. While the expansion now has the (advisory) approval of the Community Board, it will ultimately have to be approved by New York City's Landmarks Preservation Commission. Property owners should contact Community Board Five with questions about upcoming calendar dates and agendas.

For more information on this issue please contact:
Mitchell Korbey at [email protected] or +1 212 592 1483

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Nothing contained herein is intended to serve as legal advice or counsel or as an opinion of the firm.