Air Rights

Midtown East

Property Owners Jostle for Deals After Midtown East Rezoning

A flurry of air rights purchases have already begun as large property owners take advantage of Midtown East's upzoning. Some big names include JPMorgan Chase and the Archdiocese of New York.

March 1, 2018 - Crain's New York Business

Theaters

Fits and Starts for New York City's Special Districts

There has been a lot of breaking news originating from both the Garment District and the Theater District in New York City this week.

March 2, 2017 - Crain's New York Business

Tesco Supermarket, London

Tesco Plans to Sell Air Rights For Housing Development Above Its Stores

To help its bottom line, struggling UK retailer Tesco is planning to open up its parking lots and the space above its stores for new housing development.

November 23, 2016 - The Telegraph U.K.

New York

$100 Million in Air Rights Sold by New York's Pier 40

The kind of air rights deal only possible in New York City will offer benefits for both parties and, hopefully, the public.

October 19, 2016 - Crain's New York Business

Grand Central Terminal Owner Files $1.1 Billion Suit Against One Vanderbilt

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.

October 1, 2015 - The New York Times

Brooklyn Brownstones

A Tower the Height of the Empire State Building…in Brooklyn

The wave of skyscraper construction in New York is about to jump the East River.

August 6, 2015 - Crain's New York Business

High-Rise Approval Secures $220 Million for Grand Central Terminal Improvements

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.

June 2, 2015 - The New York Times - N.Y. / Region

Queens New York

Iconic Queens Clock Tower Anchors 915-Foot Skyscraper

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.

April 11, 2015 - New York Times

New York Reconsiders Air Rights for Landmarks

An old idea has new life in the de Blasio Administration—less restrictive air rights regulations for landmarks like St. Patrick's Cathedral.

April 7, 2015 - The Wall Street Journal

The Case for Selling Air Rights

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.

October 1, 2014 - Governing

MARTA Seeking Ideas for Developing Air Rights at Train Stations

In a significant first, the Metropolitan Atlanta Rapid Transit Authority is seeking ideas for developing the air rights above four urban rail stations.

September 16, 2014 - Atlanta Business Chronicle

Air Rights Deal to Renovate Boston's Back Bay Station Includes Skyscraper

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.

June 19, 2014 - The Boston Globe

For Sale: Air Rights at MARTA's Urban Train Stations

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.

June 12, 2014 - SaportaReport

The Race for Manhattan's Rarified Air

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.

February 23, 2013 - The New York Times

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