NYCHA seeks to raise revenue for capital repairs by selling transferrable development rights on NYCHA properties. On March 5, 2020, the New York City Housing Authority (NYCHA) announced the finalization of an agreement to transfer approximately 9,000 square feet of development and parking rights at the Hobbs Court development, located at 315 E 102nd Street in East Harlem, Manhattan.
Search Results for: Development Rights
City Planning Holds Hearing on Transfer of Development Rights from Landmarked East Village Building
Community questions benefits received and context of development. On March 4, 2020, the City Planning Commission heard an application by Real Estate Equities Corporation for a special permit to transfer development rights from a landmarked site and construct a ten-story commercial building in the East Village neighborhood of Manhattan. The development site is located at 3 St. Marks Place, on the northeast corner of Third Avenue and St. Marks Place and is currently vacant. The … <Read More>
BSA Grants Variance for Transfer of Development Rights to Facilitate a New Charlton Street Development
The transferring property was granted a variance 15 years ago, but the development of the adjacent property had not been under the applicant’s control. On December 6, 2016, the Board of Standards and Appeals unanimously voted to grant 104 Charlton Street Condominium’s request to transfer unused development rights from the applicant’s property, located at 104 Charlton Street, to an adjacent property located at 108 Charlton Street in Manhattan’s Special Hudson Square District. Because the site … <Read More>
City Council Committees Approve Pier 40 Transfer of Development Rights
Zoning Subcommittee and Land Use Committee approve brokered rezoning and development rights transfer at St. John’s Terminal in Manhattan’s Greenwich Village. On December 6, 2016, two City Council committees approved a land use application to develop the aging St. John’s Terminal which is located across West Street from Pier 40 and just north of the Holland Tunnel. The approval will allow the transfer of $100 million of air rights from Pier 40 to the 1.7 … <Read More>
BSA Grants Variance for Transfer of Development Rights to Facilitate Merging of Property
The transferring property was granted a variance 35 years ago, but the value of the development rights has since sky-rocketed. On March 8, 2016, the Board of Standards and Appeals unanimously voted to grant Charlton Cooperative Corporation’s request for a variance to transfer unused development rights from the applicant’s property, located at 112 Charlton Street, to an adjacent property, located at 108 Charlton Street, in Manhattan’s Special Hudson Square District. Because the site … <Read More>
BSA Amends Variance to Facilitate Development Rights Transfer
Board distinguished the application from relevant case law. On July 28th, the Board of Standards and Appeals voted to reopen and amend a variance for the applicant, 124 West 24th Street Condominium, to facilitate the conveyance of unused development rights. The site from which the rights were to be transferred was the subject of a previous Board variance and could not be transferred without Board approval.