Opposing Proposed Air Rights Transfer for Silicon Alley Office Tower on St. Mark’s Place – Help Us

St. Mark’s Place & 3rd Avenue currently (l.), and as proposed with office tower utilizing air rights transfer (r.).

A developer has applied to transfer air rights from the landmarked house at 4 St. Mark’s Place to increase the size of a planned new office tower across the street at 3rd Avenue and St. Mark’s Place (view the application here). The planned 10-story, 175 ft. tall office tower is part of the growing wave of office development we are seeing in this area along 3rd and 4th Avenues and University Place and Broadway, spurred on by the growth of the expanding tech industry’s ‘Silicon Alley,’ and the recent approval by the City Council of the Mayor’s ‘Tech Hub’ just a few blocks away on 14th Street.

The transfer of the air rights to increase the size of the planned tower by 20% is subject to the approval of various city agencies. We feel strongly that the city should not abet oversized and inappropriate office development in this area. The planned office tower displaces several long-time local businesses, as well as a nearly 200-year-old house.

We are pleased to report that Community Board #3 has joined us in unanimously opposing the proposed air rights transfer, but ultimately the Landmarks Preservation Commission, the City Planning Commission, and the City Council will decide if this transfer is allowed.

March 19, 2019