NYC Air Rights

Here s how much office developers paid to acquire air rights last year More dev rights went to office properties last year than 上海贵族宝贝

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for resi condos

New York City Skyline

Move over, condos: 爱上海同城手机版

新爱上海同城对对碰论坛
developers are gobbling up the city s air rights for office projects.

A new report from Tenantwise has found that people are buying more air rights for offices than for residential cond上海同城对对碰交友社区

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ominiums for the first time in years, according to the New York Post. In 2017, the average pricing for office air 上海贵族宝贝

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rights reached $315 per square foot, which was its highest in history.

JPMorgan Chase, for instance, is paying in the $300s for development rights at its Midtown expansion at 270 Park Avenue. Air rights for office developments were cheaper in Hudson Yards last year, however, going for an average of $235 per square foot.

The City Planning Commission unanimousl上海千花网龙凤论坛

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y approved selling development rights to West Chelsea property owners for $625 per square foot in February, and The Real Deal estimated in August that selling 3.6 million square feet of air rights could deliver landlords in Midtown East just under $900 million over the next two decades. [NYP] – Eddie Small

Tags: Air Rights, Commercial Real Estate, condo market, office market
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