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SL Green Grand Central Tower to Advance After Zoning Plan

SL Green Realty Corp. is proceeding with a plan to build a skyscraper next to New York’s Grand Central Terminal that will be taller than the nearby Chrysler Building after the city proposed new zoning for the area.

SL Green will probably be the first applicant for a special zoning permit in the area, and its plans for the 1,200-foot (370-meter) tower should be under public review in the last three months of the year, New York Mayor Bill de Blasio said today in a statement. The rezoning of a five-block area mostly along Vanderbilt Avenue is part of a “two-track” strategy to rezone the eastern portion of midtown Manhattan, he said.