The Bloomberg administration’s plan for rezoning the area around Grand Central Terminal could produce $750 million over the next 20 years for the cash-starved MTA.
City officials disclosed the figure for the first time during a meeting Thursday night with leaders of the three community boards that would be affected.
The briefings came as the administration rushed to get the plan through the land-review process before the end of the year, when Mayor Bloomberg leaves office.
The city plans to sell “district-improvement bonuses” for $250 per square foot to developers who would be allowed to exceed current building-height limits in an area bounded roughly by 39th to 57th streets and Second to Fifth avenues.
Most of that cash would go to the MTA.