Air rights

This may be a more intriguing opening for this little essay than all the rest of the information I will share with you. Here goes:

My favorite air rights movie (who ever thought there would be such a genre) is Burlesque.

Selling air rights can be a lucrative boost to a property in need of a financial lift.

In NYC, buildings are zoned block by block by size.

A developer can aggregate rights from buildings abutting his project or those across the street.

We lived in a small coop, which benefited from this kind of sale.

Our coop occupied 5 storeys in an area where it could have been 12 floors high. We were able to assign our right to those extra flights to a developer in an adjacent plot. He added 7 extra floors to his already tall rental. Win win.