The owner of Grand Central Terminal, Andrew Penson, is suing the city of New York for $1.1 billion, following the city’s green-lighting the construction of a 65-story tower nearby, called One Vanderbilt.
Due to the new zoning laws put into place by the de Blasio administration, SL Green was permitted by the city to begin construction without purchasing air rights from Penson. In exchange, the developer will fund a $220 million renovation project, including improvements to subway platforms and stairwells below Grand Central. Penson alleges in his complaint that "such improvements would have had to be made anyway under the prior zoning."