Tag Archives: NYC commercial real estate development

What Are Air Rights Worth in NYC’s Hudson Yards? How About $265MM?

hudson yards photo

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 […]

$100MM NYC Air-Rights Deal Cut But Not Yet Consummated On Manhattan’s West Side

Manhattan real estate development

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 […]

Changes To NYC Air-Rights Policy Are On The Horizon

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 […]