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City targets building loophole used by Billionaires’ Row developers

Manhattan developers for years have boosted the heights of their towers by using a loophole in the city’s zoning laws. Developers have included what’s known as mechanical voids — unoccupied floors with mechanical and structural equipment — to dedicate more room at the top of a project, where residents will pay higher prices for better views. But now city officials are looking to close this loophole through rules that would make unusually large mechanical spaces […]

source https://therealdeal.com/2019/04/22/city-targets-building-loophole-used-by-billionaires-row-developers/

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