five boroughs
Best area to find these: Almost every area in Manhattan and the
landmarks.
neighborhoods, due to the unused air rights of underbuilt
occur when new construction takes place in less dense
ous. One of the biggest advantages of this is that they usually
other properties. These properties don’t have to be contigu-
the air rights to transfer between landmark properties and
Preservation Commission. New York City zoning laws allow
culturally significant, and are protected by the Landmarks
Landmark transfers. These properties are historically and
District, or 125th District
Best area to find these: Garment Center District, Hudson Yards
granting and receiving sites that are not contiguous.
zoning requirements. Air rights can be exchanged between
in New York City designated by the commission stipulates
Specific purpose district transfers. All specific districts
Illustration by Lena Kourgouzov
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Manhattan
Best area to find these: south of Central Park in
of transfer, and you can gain a huge profit after selling it.
thing about this? The city doesn’t have to approve this type
developer starts to build a higher building. What is the best
an adjacent property. You link it with your property, and the
unused development rights and you work with a developer of
Zoning lot mergers. You have an underbuilt property with
B LUSH MAGFIT.COM
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There are three ways to own/sell air rights:
SPR IN G 2 0 17 / DEPA RTMEN T
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