Excerpt from Practical Guidance

Buying And Selling Air Rights In New York City: Part 1

By Robin Kramer (January 3, 2018, 12:13 PM EST) -- The transfer of air rights (also referred to as developments rights) to a development site is often utilized by developers to facilitate construction of a taller building on the development site than would have been possible had such rights not been transferred. This article discusses air rights in New York City: what they are, the as of right (i.e., without government approval) acquisition of air rights, and the documents necessary to acquire such rights for development of land. ...

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