Air rights

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Air rights

A privilege or right, protected by law, to build in, occupy, or otherwise use a portion of air space above real property at a stated elevation, in conjunction with specifically located spaces on the ground surface for the foundation and supporting columns.
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References in periodicals archive ?
The project included the 800,000 s/f addition of a 12-story air-rights transfer structure and renovation of the existing 23-story hospital building.
Mandl's original design called for a soaring 32-story structure, made possible by an air-rights purchase from the neighboring church.
Freud also commented that though only approximately 18,000 SF of that is residential development, it is probable that additional air-rights will be sold to a developer from neighboring buildings owned by the Harmatz family.
New Roc City has an application pending before the New Rochelle City Council to amend the air-rights lease and change the zoning text to allow its 120,000 square-foot office complex to be converted to 92 market rate rental units of predominantly one- and two-bedrooms, said Joseph Apicella, vice president of development for Capelli Enterprises, which also operates 1,000 residential units through Summit Property Management.
Due to vacancies and unused air-rights, these buildings create an ideal re-positioning as a condominium development conversion.