Tag Archives: air-rights

A New York City Air Rights Brouhaha!

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 […]

Blackstone Group Buys Stuyvesant Town In New York City And Gets A Development Rights Kicker!

Development rights, aka air rights, are an extremely valuable commodity on the New York City real estate scene! And it’s the fact that Stuyvesant Town possesses over 700,000 square feet of development rights that some feel helps to explain why Blackstone Group, as part of its deal to purchase this iconic property, was willing to […]