It would ordinarily be limited to 182,640 square feet of floor area by zoning rules. Through the transfer of air rights from the adjacent Lunt-Fontanne Theater, it will have 320,131 square feet. Or take the luxury apartment tower at 515 Park Avenue developed by Arthur and William Lie Zeckendorf. Zoning rules would permit 72,000 square feet on that site. By transferring air rights from neighboring buildings on East 60th Street, including the Lighthouse, the tower will have more than 165,000 square feet.
Ground is to be broken tomorrow.
The city's Economic Development Corporation is negotiating the sale of most of the air rights from P.S. 191 to Laurence Ginsberg, who would build two 30-story apartment towers next door. The project would grow to 600,000 square feet, from 40,000 square feet, through the transfer. This would evidently be the first such transfer from a public school. The city agency hopes it will not he the last. Some government officials, however, are alarmed by the P.S. 191 transfer.