One of the mysteries of the English language finally explained.
The right to build or develop in the airspace above a property.‘they bought and sold the house next door but retained the air rights above it’
- ‘The buyers were required to pay an extra $10 per square foot on top of the regular purchase price for the air rights.’
- ‘That was the most valuable part of the real estate, after all, not the footprint but the air rights.’
- ‘Dance Theater Workshop has sold the air rights over its head to private developers for $3.2 million.’
- ‘Normally, air rights can be transferred only to contiguous building sites.’
- ‘Air rights are important if you own a condominium or co-op.’
- ‘Two developers have agreed to pay $430 a square foot for the air rights over a church in a private club on Manhattan's exclusive Park Avenue.’
- ‘Few lots in the theater district can accommodate big buildings without a transfer of air rights.’
- ‘Sell your air rights so people can build great big condos on top of your subway stops.’
- ‘The air rights for these parcels are the jurisdiction of the Massachusetts Turnpike Authority, which is the agency overseeing the Big Dig.’
- ‘City officials have been eager to counter any suggestion that the winning consortium won the so-called "air rights."’
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