Inclusionary Air Rights CB5 Manhattan, NY

Ariel Property Advisors has been retained to market the disposition of approximately 6,000 square feet of inclusionary air rights (IARs) in Manhattan’s Community Board 5. This offering is an opportunity for owners of eligible properties to enlarge the size of market-rate developments located in Community Board 5, within a 1/2 mile radius of the generating site or within additional specified Designated Inclusionary Housing Areas. For example, properties located in a R10 or equivalent zoning district can increase their FAR from 10.0 to 12.0, providing an outstanding opportunity to maximize both the floor area and value of a development site.

Approximately 6,000 buildable square feet.

Only properties that meet the IAR requirements in Manhattan’s Community Board 5 or within a 1/2 mile radius of the generating site are eligible receiving sites. Additionally, mid-block properties that are located in the Designated Inclusionary Housing Area between 7th and 8th Avenues from the north side of West 28th Street to the south side of West 30th Street are also eligible receiving sites.

Eligible receiving sites are located in either R10, C5-2, C5-3, C6-2A, C6-4, C6-4A, C6-6 or C6-7 zoning districts or in Inclusionary Housing Designated Areas. Some CB6 properties are within a half-mile of the generating site and may be eligible receiving sites - please inquire for more details.