Air Rights in NYC – The Case for Community Benefit and Control
“For whoever owns the soil, it is theirs up to Heaven and down to Hell” is the legal concept behind air rights; the ability of landowners to sell unused development rights to adjacent lots. Most sales of air rights are private transactions, and while prices vary, air rights can sell for up to 50 to 60% of the value of the underlying land.
The transfer of air rights can greatly impact the architectural character of a community. In addition, as development rights are granted by the public, is it fair that private individuals benefit? Please join us as we explore this controversial topic, a topic that may affect your neighborhood.
Sessions: 1
|
Date: Friday, February 17 |
Time: 6:00 PM – 8:00 PM EST
|
Location: John Haynes Holmes Community House
28 East 35th Street (between Madison and Park Avenues) |