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"It adds a new dimension to a development, especially if you are focused on families," said Mr. Shokouhi, who developed the building.
Have you developed the building adequately to hold the weight?
Both Zeckendorf brothers, who developed the building, bought apartments there.
"Why commit to one artist?" asked Elad Dror, a director at the Moinian Group, which developed the building.
But a snag has recently developed: the building occupies riverfront real estate, which its owner has realized could be put to use much more profitably as residential.
Drew Sanders, a senior vice president at Duke Realty, which developed the building, said he approved linking the credits to the cost of the cleanup.
Similar(42)
Though landmark designation is often used to protect buildings from demolition or significant alteration, Ms. Wyden said she has no intention of selling to a developer, and is already restricted by existing zoning from further developing the building.
The developers are applying for tax-exempt permanent bond financing from the New York State Housing Finance Agency to develop the building as a so-called 80-20 project.
Mr. Wilpon's investment firm, Sterling Equities, co-developed the building in 1984, and Mr. Wilpon kept this apartment for himself.
He plans to develop the building commercially.
Prime Group is developing the building in a joint venture with the J. Paul Beitler Development Company of Chicago.
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