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Elad Has Deal for One Madison's Air Rights?

The potential Elad Properties/Daniel Libeskind 900-foot residential tower on Madison Square Park has become the most pressing matter of our time. The endless speculation has helped, and the One-Madison-Park-buyers-getting-screwed wildcard has certainly contributed to all the fuss. Now, the Post's Lois Weiss wades in with some solid intel. She reports that Elad has an agreement in place to use SL Green's air rights to build a 74-story tower on top of the 14-story annex building, just as was expected (take that, yesterday's CurbedWire!). Lev Leviev bought the landmark clocktower from SL Green in May, and Weiss points out that Elad's plan probably has him cursing into his kippah, given that Elad is a chief rival. Responding to all the hubbub, Elad issued a statement saying: "Any discussion of a potential development at 1 Madison Avenue is highly premature. It is in its earliest concept phase and no decisions have been made about any aspect of the potential development." Let's continue all that premature discussion in the comments, shall we?
· 1 Mad. Ave. a Tall Order [NYP]
· Hey, One Madison Buyers: About Those Views... [Curbed]

One Madison Park

One Madison Park, New York, NY 10010