air right


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air right

The legal property right for use of the space above a specified elevated plane; usually includes the right to ground support but excludes other rights to ground use, e.g., the right to construct a building over a railroad track.
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Hines acquired the land in 2007 and it took until last week to close on the purchase of additional air rights necessary to build 53W53, a condo designed by Nouvel with interiors by Thierry Despont.
A cost-free air rights expansion of the Javits Center would save billions in construction expenses and give New York City a world class convention center that would attract most of the biggest and best event and maximize revenues and jobs.
Since winning direct air rights to China in 2001, for example, UPS China's annual revenue more than doubled as customers took advantage of new shipping options.
199 East 4th Street contains approximately 6,875 square feet, nine residential units plus one store, and an additional 102 square feet of unused air rights.
Lowe Enterprises Investment Management announced today that it has sold, on behalf of a pension fund client, the Air Rights Center in Bethesda, Maryland, to Bethesda ARC, LLC, an affiliate of Teachers Insurance Annuity Association.
There are approximately 3,200 s/f of available air rights, and the lot could be developed into either a fully commercial or a mixed-use development of up to 15,180 buildable square feet.
UPS's application this year to the federal government for China air rights received strong support from numerous businesses, labor unions and elected officials.
The site has 3,000 s/f of air rights for potential residential development.
Temporary air rights granted to UPS allow the company to operate its B757 service from Singapore to Hong Kong.
There are also significant air rights that will allow us to add two floors to this corner building," said Michael Shah, principal of DelShah Capital, in a statement.
Massey Knakal Realty Services has been retained on an exclusive basis to sell a longterm NNN lease building with air rights at 160-04-06 Northern Boulevard.