Air Rights at Olshan Law

Air Rights

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Transferable development rights (TDRs) or air rights are rights created by the New York City Zoning Resolution permitting a property owner to increase the development potential of its lot by purchasing buildable square footage from adjacent lots, lots with landmarked buildings and lots within certain special districts including the theater district and the High Line district. Our real estate lawyers are experts in this very complex area of conveyancing including zoning lot merger documents and zoning lot development agreements (ZLDAs). Our lawyers help buyers and sellers of air rights assemble the required team of experts to make sure the rights purchased actually work. The team includes a lawyer specializing in zoning, surveyors accustomed to measuring building envelopes and code consultants to make sure the rights may be used in the building of the new space.

Hyman Kindler of our Real Estate Group is among the leading air rights conveyancing lawyer in Manhattan. He is regularly consulted and brought in as co-counsel to convey or acquire the rights being sold and to create the complex documentation which will govern both lots into the future.

Contact Hyman Kindler or Thomas D. Kearns with any questions or comments.