The phrase air rights, depending on who you you’re speaking with, conjures up various thoughts and opinions over exactly what they are! There is of course the environmental and aviation context, but for the purposes of this article we speak of the ability for a developer to build a building to a certain vertical height. One can possess air rights […]
Over the years the Hallmark Abstract Service blog has occasionally dabbled around the periphery of an extremely complex and somewhat misunderstood segment of New York City real estate…Air Rights! Transferable development rights, TDRs or air rights, allow for the transfer of unused development rights to another development site. The transfer of these air rights allows buildings to […]
The topic of New York City air rights is somewhat arcane, and an area of commercial real estate development that is not TRULY understood by many in the marketplace! Recently the Hallmark Abstract Service blog had published an article titled, ‘Are Manhattan Air Rights Losing Some Of Their Luster?‘, that examined how as ‘the market for […]
For readers interested in the subject of NYC air rights, this article examines how developer appetite in Manhattan seems to be waning utilizing price as anecdotal evidence! And, for those readers not particularly focused on this subset of the NYC real estate market but who have none-the-less had to suffer through many recent articles on the subject, rest […]
Yesterday it was noted that NYC’s de Blasio administration is considering two potential changes to the air-rights policy that’s currently in place! The article, ‘Changes To NYC Air-Rights Policy Are On The Horizon‘, examined how tougher disclosure rules may be implemented to increase the transparency of air-rights deals along with the potential to ease the restrictions on […]
The de Blasio administration is considering changes to NYC air-rights policy! Summary: Two changes that are currently under consideration… ‘The first would involve private transactions, which allow developers to buy unused square footage from owners on the same block…Community groups have criticized the process as being too opaque, and have suggested that the city increase transparency […]
*But may have been too far in the shadow of a huge residential skyscraper to know to ask! The purpose of the interactive map at the link below below, developed by The Municipal Arts Society of New York (MAS), is to alert New Yorkers of the potential for skyscrapers to rise where none now exist. The […]
