air rights

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Air Rights

The right to build on, occupy, and/or profit from the air above a piece of real estate. Supposedly, air rights have existed as long as the concept of private property, but it became important in the 20th century as air travel became more common. In the United States, air rights only extend to the amount of air that one may reasonably occupy. As with other aspects of real estate, air rights may be sold, leased, or otherwise acted upon either in conjunction with or separate from the property to which they are attached. See also: Mineral Rights.

air rights

Historically,property owners owned to the center of the earth and to the top of the heavens, which included the right to all the air above the property and the right to exclude trespassers from that air. Until the invention of aircraft, the matter typically arose only in disputes over the right to remove tree limbs extending over one's property. Today, aircraft constantly trespass into property owner's air space and violate their air rights.As an accommodation to modern technology, courts allow reasonable trespasses to air rights. Airports and governments frequently purchase air rights adjacent to an airport,called avigation easements,to provide glide paths for aircraft.(Because of the scarcity of prime real estate near city centers, many local governments are investigating and implementing plans to lease air rights above transit hubs to developers,for building hotels and other such projects.)

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1) Combining 600,000 s/f of surplus air rights over 12th Avenue with the original Javits Center within a common base of a high-rise mixed use hotel, office, showroom, and/or residential tower(s) ; or
Located on Wisconsin Avenue, Air Rights Center is in the heart of Bethesda's central business district.
The three-story building contains approximately 5,820 s/f, holds 840 s/f of air rights, and has excellent income.
According to the listing, the building is 19,840 s/f and has 25,216 s/f of air rights.
Millennium Partners, an international real estate development firm, and The Massachusetts Turnpike Authority (MTA) today announced their agreement to the terms of a development agreement to pursue the construction of a project on air rights over the Massachusetts Turnpike in Boston's Back Bay.
The site, which is four blocks from the LIRR, has future development opportunity as a residential mixed-use project which could be built with over 57,000 s/f of additional air rights.
These transactions include certain rights in a Spanish language film library and two lists of primarily public domain films and broadcast air rights.
Located in Clinton, the building is 9,475 s/f with 3,871 s/f additional air rights.
Under McCarty's leadership, the Asia division experienced tremendous growth, highlighted by the opening of a new hub facility in Subic Bay, Philippines, after a successful resolution of the Japanese air rights dispute, and the company's recent launch of FedEx AsiaOne, a new intra-Asia overnight delivery network.
The four-story building at 65 Avenue D, is 3,136 s/f and has 7,364 buildable square feet of air rights remaining.
The $45 million new facility was built at zero cost to taxpayers, financed instead through a 75-year lease of the air rights above the building by the New York City Educational Construction Fund to private developers.
3 billion purchase of the sprawling Stuy Town apartment complex also bought the firm a jumbo 700,000 s/f of air rights that some experts say could wind up being "just the tip of the iceberg" in Mayor Bill de Blasio's plan to preserve and build affordable housing in the city, according to one expert.