WebMar 5, 2006 · Selling the Air Above. By William Neuman. March 5, 2006. ON an island where there is often nowhere to build but up, the air in Manhattan can get pretty pricey. Air-rights deals, or the sale of ... WebSep 26, 2024 · The reason a board may consider selling air rights is to bring in much needed revenue for the building. As with any change a board wants to make, good communication is key. ... New York City real estate attorney Steven Wagner, a partner at Adam Leitman Bailey P.C., has more than 30 years of experience representing co-ops, and condos, ...
What Are NYC Air Rights All About? StreetEasy
WebFeb 22, 2013 · Perfect fodder for an $82.55 million penthouse. Supply and demand dictate the price of air rights: 20 years ago, $45 a square foot was considered a reasonable fee, but in recent years the norm in ... WebAir rights can be used on the property itself by enlarging the existing building – in the example above, for instance, by adding 10,000 square feet – or they can be used on an adjoining property where the owners of the properties agree to “merge” their properties into a single “zoning lot.” land for sale in mint hill nc
How do I find out if my building has air rights, and how do we sell …
WebAug 9, 2024 · The NYC Zoning Resolution (ZR), a statue that governs NYC zoning regulations, allows property owners to transfer unused air rights (a.k.a “development … WebApr 19, 2024 · In New York City, Gosine says that air rights are sold and transferred through a purchase and sale agreement, similar to what is used when selling a condo, co-op or … WebSep 30, 2024 · Broadway theaters can sell air rights to anyone in the Theater District, because any new development is likely to further add value to this part of Manhattan. The … help with christmas gifts for children