The old auto repair shop on the corner of Madison and Pike streets has been shuttered for several years. But something interesting might begin happening here in the not-too-distant future.
Longtime Chinatown resident Way Moy recently asked Community Board 3 to support his plan to build an eight story residential building on the site, 154 Madison Street, property that’s been in his family for many years. Since the parcel is zoned only for commercial use, Moy needs the approval of the NYC Board of Standards and Appeals.
This week, CB3 voted 19-8 (with 5 abstentions) to back the project. Several members of the land use committee objected to the proposal that Moy outlined earlier this month, out of concern for the residents in the neighboring condo building.
A very preliminary architectural drawing clearly shows that the new project would block the windows of 148 Madison. But Moy said the condo developer violated city zoning ordinances when the tower was built in 2002 and, he argued, it would be unfair to now prevent his family from moving forward with their plans.
Moy, who’s lived in a small rent regulated apartment his entire life, intends to create a family home in the new building. He would sell condo units on the upper floors. Moy promised CB3 he would also set up a community space on the ground floor, available for public use.
The most recent sale listed for 148 Madison, the neighboring building, was recorded in March of last year. Unit #8H sold for $480,000.
