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COMMERCIAL OBSERVER --Debate Simmering Over Transferable Development Rights
July 10, 2014
The Municipal Art Society’s new interactive development rights map re-ignited a longstanding debate over the complex process for buying and selling unused air rights.
The nonprofit planning and preservation advocacy group’s contention that there should be more public notice and review for zoning lot mergers, the most common form of rights transfers, inspired a skeptical response from analysts at the Real Estate Board of New York and the NYU Furman Center who expressed concern that public review might hamper new development projects.