Air Rights

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.
3 days ago   The New York Times
The wave of skyscraper construction in New York is about to jump the East River.
Aug 6, 2015   Crain's New York Business
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.
Jun 2, 2015   The New York Times - N.Y. / Region
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.
Apr 11, 2015   New York Times
An old idea has new life in the de Blasio Administration—less restrictive air rights regulations for landmarks like St. Patrick's Cathedral.
Apr 7, 2015   The Wall Street Journal
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.
Oct 1, 2014   Governing
In a significant first, the Metropolitan Atlanta Rapid Transit Authority is seeking ideas for developing the air rights above four urban rail stations.
Sep 16, 2014   Atlanta Business Chronicle
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.
Jun 19, 2014   The Boston Globe
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.
Jun 12, 2014   SaportaReport
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.
Feb 23, 2013   The New York Times