Get your Air Rights Here: City to Charge $625 per SF in West Chelsea

February 28, 2018 – Media Mention
The Real Deal

Michael Smith was quoted in The Real Deal, discussing the Department of City Planning’s unanimous approval to sell development rights to property owners in West Chelsea for $625 per square foot. The proceeds of the sale will go toward building affordable housing in the area and give developers in the West Chelsea Special District another option to build out their lots, following the downzoning of the neighborhood in 2005.