Purchase and Sale of Air Rights in New York City

Summary

The transfer of air rights (also referred to as development rights) to a development site is often utilized by developers to facilitate construction of a taller building on the development site then would have been possible had such rights not been transferred. This practice note discusses air rights) in New York City: what they are, the as of right (i.e., without government approval) acquisition of air rights, and the documents necessary to acquire such rights for development of land. For further discussion, see also 1-6 Warren's Weed New York Real Property § 6.09.