Eastern’s Ezratty Marketing 100K+ SF of Midtown Air Rights
Eastern Consolidated is exclusively marketing for sale approximately 106,000 square feet of residential development rights that can be transferred within Midtown’s Community District 5. Developers may also use the air rights within a half-mile radius of the generating site at 42 W. 33rd St., a newly constructed 41-story residential tower.
“The excess development rights will likely be sold off in smaller amounts, but could be transferred in their entirety,” said Eastern’s Brian Ezratty, the exclusive agent for the offering. “The bonus square footage can be added to the base floor area of a potential receiving site, typically limited to a maximum of 20% of the base FAR for a residential development.”
Ezratty expects the air rights to be available for transfer as soon as the second quarter.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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