The last rites: St. Patrick’s deal blocked by exclusive men’s club

If there was a commandment for not coveting thy neighbor’s air rights deal, The Brook would face damnation. The exclusive private men’s club agreed to sell its unused development rights to the owners of 405 Park Avenue, scuttling a previous agreement with St. Patrick’s Cathedral and costing the church millions. Back in March the owners of 405 Park, MRP Realty and Deutsche Bank, reached a deal to buy 30,000 square feet of air rights from […]

Source: Real Estate

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