Carmel wants $52M for excess Fulton Street air rights

Carmel wants $52M for excess fulton street air rights sf-based firm building 483-unit tower in Financial District By E.B. Solomont | July 21, 2016 01:35PM

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The assemblage at 112-120 Fulton Street has undergone several changes over the past few years: first, the site was reduced to 112-118 Fulton after a 421-a snafu, and then, Lightstone Group sold the parcels to Carmel Partners for $171 million two months ago. Vague renderings had been released for.

"Ron Zeff’s firm is seeking $400 per square foot for the inclusionary air rights, a figure that adds up to $52 million. In all, the developer obtained a total of 180,000 square feet of inclusionary air rights at the site in a deal with the city, which would fetch $72 million if sold at the per-foot asking price; 50,000 square feet of the 180,000 sum is already in contract for an unknown amount.

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View 31 photos for 4592 Carmel Dr, Fulton, MO 65251 a 3 bed, 2 bath, 1,460 Sq. Ft. single family home built in 1978.

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