Elegran Edge
The Real Estate Blog

What is Elegran Edge? It’s the blog where we bring together the biggest and best stories from our neighborhood blogs and agent blogs. If it’s happening in Manhattan real estate, you can find it here.

Articles about "Air Rights"

  • NYC City Hall Zoning: New York City’s Past and Future By David Dam | February 28, 2017

    New York City's real estate has been shaped over the years through rezoning. Read more on how rezoning could change NYC for years to come.

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  • Midtown Manhattan Air Rights: Its implications and importance in city rezoning By David Dam | September 08, 2016

    The concept of air rights has continued to gain importance in the past few decades. Now, they play a central role in transforming New York City's neighborhoods and skyline.

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  • Selling Air Rights for Landmarks By Ilana Yoneshige | May 05, 2015

    Landmarked institutions are uniting in an attempt to change the limitations on selling air rights.

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  • The Trouble with Midtown East’s Rezoning By Bryan Gamble | October 28, 2013

    With the end of Mayor Bloomberg’s final term in sight, Mr. Bloomberg and his administration are pushing harder than ever to pass the rezoning of Midtown East. Despite a series of setbacks and revisions to the plan, the rezoning project was recently approved by the City Planning Commission and does have chance to pass. The deadline for final approval from the City Council, however, is quickly approaching and Bloomberg is having trouble passing this rezoning despite his previous 125 successful rezoning proposals.

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  • SKY HIGH: The New Exhibit at the Skyscraper Museum By Shwetha Ravishankar | October 24, 2013

    The Skyscraper Museum’s latest exhibit “SKY HIGH & the Logic of Luxury” is on from October all through April of 2014. True to its name, this time round the museum has dedicated an entire exhibit to bring to light the recent proliferation of the slim, super-slim, and ultra-luxurious residential towers that are rising to the skies in Manhattan.

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  • Money out of Thin Air: Air Rights and Manhattan (Part 2) By Thomas Faddegon | March 27, 2013

    The idea that “everything is worth what its purchaser will pay for it” is a founding principle of capitalism. First voiced by Publilius Syrus and later echoed by Adam Smith himself in The Wealth of Nations, it applies to every commodity imaginable. In New York City real estate, air is no exception.

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  • Money out of Thin Air: Air Rights and Manhattan (Part 1) By Thomas Faddegon | March 22, 2013

    What exactly does a square foot of air look like? Instead of trying to visualize this rather abstract concept, simply picture anywhere between $250-$600 in cash. It’s a more concrete image, and in today’s Manhattan real estate market, it’s virtually the same thing. In the age of Ebay and Craigslist, we have learned that one man’s junk truly can be another man’s treasure, and empty space is no exception. Over the last few decades, the phenomenon of air rights has become a unique feature of New York City real estate, creating a massive multi-million dollar market quite literally out of thin air.

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  • 35 XV Reveals Its Future Self By Janna Allen | March 21, 2013

    Once Xavier High School sold off its unused air rights to Alchemy Properties, the Chelsea neighborhood was unsettled. Rumors of a hotel going up within the neighborhood were being whispered on the streets back in 2008. Residents were perturbed due to thoughts of losing a quiet neighborhood in lieu of a busy hotel, and protested vehemently. Alas, 35 West 15th street was destined to become a luxury condominium building (which residents still weren’t happy about) and plans were finalized in 2011. Despite simmering anger from residents, construction has commenced, a name of 35 XV has been given, and an official site has been launched portraying sparkling renderings.

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