Midtown Operating Corporation, a New York City taxi company, recently closed at 42-50 24th Street. It is the first step of another large construction project coming to the Court Square area. According to 6sqft, the 33,982-square-foot lot was sold in December 2015 for $69 million.
Here’s more details via 6sqft:1
The site is currently zoned for a 271,856 square foot, mixed-use tower but the purchase of air rights from an adjacent parcel owned by the Department of Transportation could increase the project’s square footage to 373,272. The Department of City Planning is currently evaluating the area for upzoning, which could potentially double the new building’s size.