New York A 1643: Relates to authorizing the creation of an air rights database for the city of New York

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A01643 Summary:

BILL NOA01643 

&nbsp

SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

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MLTSPNSR

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Add §11-203.1, NYC Ad Cd

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Authorizes the commissioner of the New York city department of finance to create an air rights database recording transfers of such unused development rights.

Go to top A01643 Actions:

BILL NOA01643 

&nbsp

01/10/2025referred to cities

01/07/2026referred to cities

Go to topA01643 Committee&nbspVotes:

Go to topA01643 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01643 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1643

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Cities

 AN ACT to amend the administrative code of the city of New York, in
 relation to recording interests in air rights

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The administrative code of the city of New York is amended
 2 by adding a new section 11-203.1 to read as follows:
 3 § 11-203.1 Maps and records; air rights. a. As used in this section
 4 "air rights" means the unused development rights above the surface of
 5 the earth, permitted to a lot, parcel, or area of land under a zoning
 6 ordinance, remaining when an actual floor area is less than the maximum
 7 amount of floor area permissible on such lot.
 8 b. No later than January first, two thousand twenty-six, the commis-
 9 sioner of the department of finance, in collaboration with the chair of
 10 the department of city planning, shall develop or update a single,
 11 searchable database that includes:
 12 (1) the date of the transaction or transfer of air rights;
 13 (2) the square footage of air rights transferred;
 14 (3) any consideration exchanged for the air rights;
 15 (4) the physical address of the property where the air rights origi-
 16 nated and the physical address of the property where the air rights are
 17 being transferred;
 18 (5) any other assets of value included in the transaction;
 19 (6) the identities of the buyer and seller; and
 20 (7) the disclosure of the buyer's and seller's legal address and other
 21 relevant contact information.
 22 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04223-01-5

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