Air Rights
Started by Powerizeme
over 13 years ago
Posts: 0
Member since: Jan 2013
Discussion about
My question is, I have a client who needs to purchase air rights to add on another 20,000 to a bldg he is developing. He had someone willing to sell to him and they backed out. Its zoned R10. Can he only purchase air rights from adjacent buildings or is there such a thing as purchasing air rights from elsewhere in Manhattan? Many thanks...
95% of air rights transfers are between adjacent buildings. Exceptions include properties along the High Line, which can transfer area the legnth of the tressle, and landmarked Broadway theaters, which can transfer across streets. The city planning commission can also permit other non-adjacent transfers when other landmarks are involved.
"Adjacent" doesn't have to be only the next door lot. In order to build the tall apt. building on the SE corner of Park & 60th St., the developers acquired all the unused air rights from the three tax lots to the immediate east on 60th St. So the lots were all contiguous, but only 1 was 'adjacent'. (no landmarks involved).