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What's New at Phillips Nizer LLP

Recently Published Article - "Airspace Conveyance Policy Changes"

Real Estate Department chair and partner, Marc A. Landis' most recent article on the sale of airspace rights, which appears in the Real Estate special section of the New York Law Journal (NYLJ), is a natural follow-up to the September 29, 2008 NYLJ article, "Transferring Development Rights In New York City," co-authored with Kevin B. McGrath, also a member of the Real Estate Department.

In this most recent article, "Airspace Conveyance Policy Changes," Landis addresses the transactional aspects of transfers of development rights ("TDR"s) and examine the effects of a new rule promulgated by the NYC Department of Finance, which will require tax lot subdivisions creating separate "airspace parcels" in most TDR deals.  Various implications of this policy change for parties involved in TDR deals are also discussed.