City Planning To Vote on Higher West Chelsea Air Rights Price

February 28, 2018 – Media Mention
The Real Deal

Michael Smith was quoted in The Real Deal, discussing the Department of City Planning’s decision to vote on West Chelsea air rights. The discussed $625 per square foot price is a jump from the $500 per square foot proposed in October of 2017. Smith noted that buying the density bonus from the city would require some extra steps and take a bit longer than private zoning lot mergers but said it’s a relatively simple process. He said, “it’s just a new opportunity, something else that’s on the menu.”