Today, the NYC Board of Standards and Appeals (BSA) gave a green light to Congregation Shearith Israel (CSI)—and to all nonprofit and religious institutions seeking to turn the air above their sites into luxury condo revenue streams, even where laws designed to protect neighborhood character and property values explicitly restrict it. CSI’s planned development project is located in the R8B-zoned, low-scale, brownstone midblock of
It doesn't take a microscope to spot this trend, which could have even greater ramifications in the other boroughs. With today's approval, the BSA has opened the door to luxury condos towering over nonprofits in every previously protected neighborhood in the city. And their decision is final. Except for court. Stay tuned...