Air Rights

5 days ago
The kind of air rights deal only possible in New York City will offer benefits for both parties and, hopefully, the public.
Crain's New York Business
October 1, 2015, 6am PDT
A $1.1 billion lawsuit challenges the approval of plans for One Vanderbilt, adjacent to Grand Central Terminal, on the grounds that it circumvented the purchase of air rights from the adjacent Grand Central Terminal.
The New York Times
August 6, 2015, 5am PDT
The wave of skyscraper construction in New York is about to jump the East River.
Crain's New York Business
June 2, 2015, 8am PDT
In exchange for the approval to build One Vanderbilt, a 63-story office tower adjacent to Grand Central Terminal, the developer will give the MTA $220 million for upgrades to entrances of the Metro-North Railroad and the terminal's subway entrances.
The New York Times - N.Y. / Region
April 11, 2015, 11am PDT
In a complex saga involving the MTA, an 88-year-old tower, and a planned 77-story apartment behemoth, affordable housing may be first to fall by the wayside.
New York Times
April 7, 2015, 8am PDT
An old idea has new life in the de Blasio Administration—less restrictive air rights regulations for landmarks like St. Patrick's Cathedral.
The Wall Street Journal
October 1, 2014, 2pm PDT
Scott Beyer argues that more compact, vertically-oriented cities, like Seattle, San Francisco, Chicago, and Washington D.C., should sell the air rights above public projects.
September 16, 2014, 7am PDT
In a significant first, the Metropolitan Atlanta Rapid Transit Authority is seeking ideas for developing the air rights above four urban rail stations.
Atlanta Business Chronicle
June 19, 2014, 12pm PDT
Boston is in the process of effectively privatizing the management of its largest transit hubs. The latest example: a deal that would renovate MBTA’s Back Bay Station in exchange for air rights for a skyscraper above the station.
The Boston Globe
June 12, 2014, 9am PDT
MARTA is exploring the desire of developers to build mixed-use buildings over its urban train stations. Any such deal would be the first of its kind in MARTA's 40-plus-year history.
February 23, 2013, 7am PST
Buoyed by a recovering real estate market, and a race to build the tallest and most exclusive residential towers in the city, Manhattan is experiencing a surge in air-rights deals. Robin Finn explores the nuances of this complex market.
The New York Times