The Reel

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A blog for breaking sales and neighborhood real estate news.

Last week, I wrote about a trend prevalent during 2005-2007 – the condo conversion of mostly rent regulated apartment buildings. During that time span, I also witnessed dozens of Inclusionary Air Right sales.

In 2009, when the market froze, so did the sale of these rights. The return of ground up development has revived these sales, which can still trade well into the $200s/SF, which is only a slight decline from the $300s/SF which were achieved in some cases at the peak of the market.

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