Century Club May Sell Air Rights

**londonlawyer** · December 13th, 2006, 09:48 AM

As set forth in the following article in the Dec. 13, 2006, Abraham Rosen will raze a glorious building located at 516 5th Ave. This guy is the epitome of both a schmuck and a philistine.

"CENTURY CLUB EYES SALE OF AIR RIGHTS ABY ROSEN"

December 13, 2006 -- THE venerable Century Club at 7 W. 43rd St. is negotiating to sell most of its air rights to Aby Rosen, who intends to build a new tower on Fifth Avenue.

We've learned that the membership, now led by author Sidney Offit, voted to enter into discussions with Rosen for such a sale, which could eventually include all but about 10 percent of the club's transferable air rights.

Rosen, club personnel and Offit did not return calls for comment.

Rosen's RFR Holdings already owns the three townhouse-style buildings at 516, 518 and 520 Fifth Ave. on the northwest corner of 43rd St. The eastern side of the Century Club abuts those properties.

In fact, in 1979, the then-owners of 518 Fifth Ave. and the Club were locked in a legal battle over 518's protruding staircase. The two sides ultimately settled.

With a land area of 100 feet-by-100 feet, the Century Club could have well over 100,000 feet of air rights to sell.

There are no height restrictions on Rosen's plot, which deed records show spans about 85 feet by 125 feet.

The recently constructed boutique office building diagonally across the avenue at 505 Fifth Ave. is about 90 percent leased, but has commanded healthy asking rents of more than $90 a foot.

Paul Glickman of Cushman & Wakefield, who represents 505, said, "Another boutique office building in the Grand Central market would be well-received."

**daver** · December 13th, 2006, 10:13 AM

Century Club at 7 W. 43rd St - selling air rights, not getting razed

**londonlawyer** · December 13th, 2006, 10:21 AM

That building, to my knowledge, will not be razed. Abraham simply bought its air rights.

**MidtownGuy** · December 13th, 2006, 10:27 AM

^stunningly beautiful

**ablarc** · December 13th, 2006, 10:43 AM

Originally Posted by MidtownGuy

^stunningly beautiful

Worthy of Palermo, don't you think?

**MidtownGuy** · December 13th, 2006, 10:45 AM

you were reading my mind!

**MidtownGuy** · December 13th, 2006, 10:55 AM

If they did try to raze this beauty, I'd chain myself to the building and you'd see me on NY1 being hauled away.

**Fabrizio** · December 13th, 2006, 11:17 AM

Thats an important landmark and cannot be torn down. Of course if Rosen gets to build on top of the Park-Bernet... perhaps we could expect a glass tower sitting on top of this building too?

**londonlawyer** · December 13th, 2006, 12:21 PM

I don't think this building is involved. I believe it's the one from which Abraham Philistine purchased the air rights. The three parcels are on the s.w. corner of 43rd and 5th. The one located at 43rd and 5th is stunning and should not be razed. The middle parcel is no big deal, and the northernmost property is nice and should be saved. Rosen should be sent back to wherever he came from. He is greedy and cares only about his profits. He really makes me sick.

Schmuck!

**pianoman11686** · December 13th, 2006, 02:39 PM

Londonlawyer, your glaring hatred of Aby Rosen is starting to get tired. Can you at least change the title of the thread so that people are not misled into thinking this building is actually getting torn down?

If this is how you think of someone who owns and plans to take good care of arguably two of the most important pieces of Modernist architecture in the city, as well as hiring world-class architects for his new buildings, then what do you have to say for the rest of the bunch?

**londonlawyer** · December 13th, 2006, 02:42 PM

Originally Posted by pianoman11686

Londonlawyer, your glaring hatred of Aby Rosen is starting to get tired. Can you at least change the title of the thread so that people are not misled into thinking this building is actually getting torn down?

If this is how you think of someone who owns and plans to take good care of arguably two of the most important pieces of Modernist architecture in the city, as well as hiring world-class architects for his new buildings, then what do you have to say for the rest of the bunch?

Pianoman, I do hate Abraham and don't care if people find it tiring. He is ruining NYC and is motivated by his own rapacious greed. The building at 43rd and 5th is getting torn down.

**pianoman11686** · December 13th, 2006, 02:46 PM

Can you please outline how exactly he is "ruining" NYC?

**londonlawyer** · December 13th, 2006, 02:57 PM

By razing beautiful, old buildings. However, he is not the only such schmuck. Macklowe is another putz for razing the Drake, as are the mishuganuh "developers" who razed the 56th Street townhouses, Shelly's, the jewel on 72nd and B'Way, etc.

**pianoman11686** · December 13th, 2006, 03:34 PM

The only other one I'm aware of that's actually getting razed is the YWCA on Lexington. Having passed by it almost everyday during the summer, I am okay with it being demolished. It's got some ornamentation, but not anything that, at least in my opinion, is a good reason to preserve it. You have to take into account the context as well: every other corner of the intersection of 53rd & Lex has commercial, glass highrises.

BTW: Aren't you the one who repeatedly called for certain small "crap" buildings to be razed on 5th, and replaced with boutique hotels/office towers?

**londonlawyer** · December 13th, 2006, 03:40 PM

Ornamented buildings are not crap. The building across the street from Abraham's site, which houses a BestBuy, is an example of the crap that I want to see razed, as is the horrific white thing in high 40's on the west side of the avenue which houses a B of A.