Overview

Description

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 4. This offering is an opportunity for owners of eligible properties to enlarge the size of market rate developments located in Community Board 4 or within a 1/2 mile radius of the generating site. 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.

INCLUSIONARY AIR RIGHTS Approximately 6,000 buildable square feet.

GEOGRAPHIC VIABILITY Only properties that meet the IAR requirements in Manhattan’s Community Board 4 or within a 1/2 mile radius of the generating site (540 West 53rd Street) are eligible receiving sites.

APPLICABLE ZONING IN CB4 Eligible receiving sites are located in either R10, C2-8, C4-7, C6-4 or C6-5 zoning districts or in Inclusionary Housing Designated Areas.

Documents

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