St. Patrick’s Cathedral looks to change air rights transfer rules

Church can't transfer its roughly 1 million square feet to adjacent lot

TRD New York /
Apr.April 06, 2015 08:00 AM

St. Patrick’s Cathedral is talking to the city in hopes of changing the rules regarding air rights transfers from landmarked buildings. 

The Archdiocese of New York, together with St. Bartholemew’s Episcopal Church and Central Synagogue, are hoping to sell their air rights to developers who own properties that are not directly adjacent to the landmarked houses of worship, according to the Wall Street Journal. St. Patrick’s, which is surrounded by tall buildings and has trouble finding a spot to transfer its rights to, has about 1.2 million square feet of development rights.

“As much flexibility as possible is needed to give these stranded landmarks the opportunity to sell some of their development rights,” David Brown, the archdiocese’s director of real estate, said at a recent conference, according to the newspaper.

The city’s rules regarding the transfer of air rights from landmarked buildings stems from a program created in 1968. Under the program’s current rules, air rights transfers from landmarked buildings have to go through the city’s public review process.

Landmarks often don’t have available sites to transfer the rights to, while developers were hesitant to go through the formal review process. Only three new projects have been built with transferred air rights since 1990, according to the Journal. [WSJ] — Claire Moses

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(iStock)

UK home prices hit a low not seen since 2012

UK home prices hit a low not seen since 2012
(Google Maps)

Buyers from Hong Kong and China are scooping up London’s luxury inventory

Buyers from Hong Kong and China are scooping up London’s luxury inventory
San Francisco Supervisor Dean Preston and San Francisco Apartment Association Executive Director Janan New

Real estate groups challenge San Fran’s permanent ban on coronavirus-related evictions

Real estate groups challenge San Fran’s permanent ban on coronavirus-related evictions
Malls are hemorrhaging retailers left and right. What will happen with all that space? Some could be converted into apartments and condominiums. (iStock)

Retail-to-residential conversions are in cards at America’s doomed malls

Retail-to-residential conversions are in cards at America’s doomed malls
WeDone: South Beach landlord seeks to evict WeWork for unpaid rent

WeDone: South Beach landlord seeks to evict WeWork for unpaid rent

WeDone: South Beach landlord seeks to evict WeWork for unpaid rent
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...