Air rights


Also found in: Dictionary, Financial, Wikipedia.

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.
Mentioned in ?
References in periodicals archive ?
would be staying until 2022 when it would have the option to renew and that there were no plans from the buyer to use the air rights.
get something done more than a year after residents approved the tax increase, library officials announced in February that they were moving ahead with a plan that doesn't encroach on the park's air rights.
He adds that both the government and the big-spending moneyed property investors stand to gain if air rights were taken into consideration."It could be the next frontier in our real estate industry," emphasises the property valuer.
These air rights could then be shifted from the initial heritage property to another location through a process known as the transfer of development rights (TDR).
One of the ways the legislature has permitted separation of ownership in air rights is by the creation of condominiums.
According to the company, its subsidiary has received an offer to purchase two-thirds of the air rights over the building for USD8.0m.
Mao pointed out that the number of tourist arrivals to Taiwan will grow further this year, thanks to the new air rights, increased flights, and the expansion of the sources of Chinese free individual travelers to 11 cities.
He also concluded that the air rights to 192 Broadway could not be transferred because there was no zoning lot merger as of the vesting date.
The city has since reinstated the permit, which it revoked July 12 over air rights above Garland Street, which runs behind the former foundation building and the DoubleTree.
6 to allow the sale of 25 Broadway houses' "air rights" for use in the Chelsea and Clinton areas.
The Prospect Heights mixed use property, conveniently located near Barclays Center and Prospect Park, features two apartments and one store and offers additional air rights. Luke Sproviero, Derek Bestreich and Adam Lobel represented the buyer and seller.
Facing public pressure to get something done more than a year after residents approved the tax increase, library officials announced in February that they were moving ahead with a plan that doesn't encroach on the park's air rights.