Buying And Selling Air Rights In New York City: Part 2

Law360, New York (January 4, 2018, 5:12 PM EST) -- This is the second part of this article. Read the first part here.

ZLDA: Allocation of Development Rights and Control of Future Activities on Zoning Lot

As noted previously, the declaration creates the zoning lot. However, the declaration has nothing to do with the allocation or use of the development rights / floor area on the zoning lot. If the zoning lot is created but there is no agreement allocating the floor area on the zoning lot, than either party can theoretically go to the New...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.