104 Charlton Street, Lower Manhattan. Image Credit: GoogleMaps

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 from which the unused development rights would be transferred had previously received a variance, the development rights cannot be transferred without Board approval. (more…)

Greenberg Traurig’s Nick Hockens testifying on behalf of the applicant before the BSA on March 8, 2016. Image credit: BSA

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 from which the unused development rights would be transferred had previously received a variance, the development rights cannot be transferred without Board approval.

(more…)