Billionaire’s Row Supertower Deal Only Subsidized About 23 Affordable Units
(DNAINFO) Rosa Goldensohn — An agreement with the city that cleared two controversial Billionaire’s Row supertowers to reshape the city’s skyline will only increase the city’s affordable housing pool by a total of roughly 23 studio apartments, DNAinfo has learned.
Developer JDS, who’s developing a tower at 111 West 57th Street, and Witkoff’s 1 Park Lane, which is rising at 36 Central Park South, agreed to pay a combined $28 million dollars towards the development of affordable housing in exchange for the right to add 57,000 more square feet to their projects, according to the Department of Housing Preservation & Development and state documents obtained by DNAinfo.