Park Avenue air rights

I'm not sure if air rights over the tracks north of Grand Central were leased or sold to developers. If leased, who owns them? The MTA? American Premier Underwriters? Someone else?

There are no air rights over Park avenue its a city street.
at GCT yes and north of MO yes.
]anything north of MO is till in hands of Premier underwriters.

Air rights along Park Avenue.

What's MO?

The property on both sides of(ALONG) park avenue was never owned by Railroads.
MO is Mott Haven Jct.

DutchRailnut wrote:The property on both sides of(ALONG) park avenue was never owned by Railroads.
MO is Mott Haven Jct.

So the land on which the tracks sit below-grade between Lexington and (point between Madison and Park) was leased? From whom?

Other than GCT the tracks are not under Lexington, they are only under center of Park Avenue a New York City street.
The Terminal extends from 59th to 42th and borders at Lexington and Madison. This is now owned by MTA and so are overhead rights were Helmsley Building and Met Life building are.

I just found http://www.greatgridlock.net/NYC/nycadd3.html#grand:

• In New York City the presence of Grand Central Terminal's underground railway platforms and tracks has led to special arrangements in founding the buildings directly above. All buildings between Madison and Lexington Avenues from 42nd to 46th Streets and the buildings along Park Avenue from 46th to 51st Street are founded on steel structure platforms supported by rows of columns situated between the railway tracks.

As well as this photo which shows the underground area extending beyond the edges of Park: http://www.arch.tu-dresden.de/ibad/Baug ... 201913.jpg

DutchRailnut wrote:Other than GCT the tracks are not under Lexington, they are only under center of Park Avenue a New York City street.
The Terminal extends from 59th to 42th and borders at Lexington and Madison. This is now owned by MTA and so are overhead rights were Helmsley Building and Met Life building are.

OK, I think I read this quickly the first time. We're saying the same thing differently. What I mean when I say tracks is the terminal tracks that you're describing.

A 2003 NYT article on the 25th anniversary of the GCT landmark status says AFG still owns air rights to the terminal, though of course it's blocked from doing anything with them by said landmark protection.

Air Rights in the area between 42nd St and 52nd St, and bordered by MADISON and LEXINGTON were all owned by NYCRR, and encompassed 29 acres, from which rose 22 major buildings. Over the years ownership of this land, and associated 'air rights' has changed from the original RR , but just wanted to put the subject in perspective........LARRY BAGGERLY