SL Green's skyscraper to go ahead after $1.1 billion lawsuit dismissed

August 11, 2016 3:06 PM

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SL Green's skyscraper to go ahead after $1.1 billion lawsuit dismissed

NEW YORK Grand Central Terminal's owner withdrew a $1.13 billion lawsuit that had accused New York City of effectively taking away his air rights by allowing developer SL Green Realty Corp to build a skyscraper next to the landmark train station.

The voluntary dismissal on Wednesday of the lawsuit filed by Midtown TDR Ventures LLC and Midtown GCT Ventures LLC in September 2015 will allow construction of a 1,401-foot tower across the street from Grand Central to move forward.

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