SL Green Expects New Midtown New York Rezoning Plan in Next Year

SL Green Realty Corp. (SLG), New York’s largest office landlord, expects there to be a new plan in place for rezoning the east side of midtown Manhattan in the next year, President Andrew Mathias said.

Mayor-elect Bill de Blasio’s administration has told SL Green that it supports the company’s 1 Vanderbilt project, slated to be a high-rise office tower west of Grand Central Terminal, Mathias said on a conference call for investors.

Last month, the New York City Council failed to agree on a rezoning plan that would have allowed taller buildings in Midtown East, one of Mayor Michael Bloomberg’s final initiatives before leaving office.

Anxiety by business owners about de Blasio’s policies are “overblown,” SL Green Chairman Stephen Green said on the call.

To contact the reporter on this story: David M. Levitt in New York at dlevitt@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net

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