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.
Illustrated Dictionary of Architecture Copyright © 2012, 2002, 1998 by The McGraw-Hill Companies, Inc. All rights reserved
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The revenue from the leased air-rights will generate substantially more revenue after the 2017 reset.
Brazil has 37 years of experience in the design and construction of high-rise buildings, hotels hospitals and air-rights projects with long-span transfer systems.
There were two air-rights closings: one with MoMA and one with Saint Thomas Episcopal Church.
"With under-market leases, a corner location, and significant air-rights, this 51 foot-wide property was highly attractive to retailers, investors, and developers," said Garvin in a statement.