Had a developer proposed building a megatower in the middle of a narrow tree-lined street anywhere else in the five boroughs, he’d be laughed clear across the nearest river. But the small piece of Manhattan encompassing most of the 50s, east of First Avenue, is the only residential area in the city with no height limits on buildings. None at all.
Hence, Gamma Real Estate’s plan to shoehorn a ludicrous spike smack into the middle of E. 58th Street, just off First. Although the Kalikow family is trying to portray its massive project as a done deal, it is not quite.
The East River 50s Alliance (ERFA) has submitted a sophisticated rezoning plan for the neighborhood that would impose sane height limits on new construction while promoting more affordable housing than Mayor de Blasio would require under current rules.