City Prairie

206 West 17th Street
Condo in Chelsea
View the CityRealty Profile of City Prairie
July 22, 2019

To protect their Empire State Building views, these Chelsea loft owners forked over $11M for air rights

Air rights can be bought by whoever values them the most. In most scenarios, that ends up being a developer, but that’s not always the case. The New York Times recently reported on a rather unusual deal made in 2016 when a group of Chelsea loft owners refused to let a proposed condominium tower obstruct their natural light and Empire State Building views. Instead, they came together and made a substantial offer to buy the air rights themselves: $11 million. 
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