Assignments

3,812 ft² of Off-Site Inclusionary Air Rights For Sale

under contract

Asking
Sale Price
$
762400

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
762400
Sale Price
$
Buildable SF
3812
Building SF
3812
LOT SF
3812
Cap RATE
%
Zoning

Highlights

• 3,812 ft² of Transferable Air Rights Available

• Rare Entitlement in a Supply-Constrained Market

• Unlocks Value for Eligible Receiving Sites

Property DEscription

Landair Property Advisors has been exclusively retained to sell 3,812 square feet of off site Inclusionary Housing development rights in Queens Community Board 1. This offering provides a rare opportunity to acquire additional buildable residential floor area that can be applied to a qualifying receiving site in the same community district, subject to zoning eligibility and required approvals. These rights are generated through an HPD administered Inclusionary Housing regulatory framework and are supported by HPD documentation confirming the affordable housing floor area that produces the transferable bonus. The development rights can be used to increase allowable residential floor area for a compensated development, improving project yield and supporting stronger overall feasibility. This opportunity is well suited for developers and long term owners seeking incremental density in a supply constrained market while remaining aligned with Inclusionary Housing program requirements and the applicable City review process.

Map

Alexandre Goulet
Partner
(646) 559-4700
ag@landairnyc.com
Anand Melwani
Partner
(646) 559-4700
AM@landairnyc.com
Dean Abouelhassan
Senior Associate
(516) 532-5385
DA@landairnyc.com

Documents

Offering Memorandum
Data Room

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