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