​How Air Rights Changed Under City of Yes: Landmarks, Split Lots & Off-Site UAP

​Join BKREA for an exclusive seminar breaking down how the City of Yes zoning reforms reshape the rules for landmark air rights transfers in New York City.

​These updates broaden where landmark air rights can be transferred, creating new opportunities for property owners, developers, and investors—but also adding layers of complexity.

​We’ll unpack both the upside and the fine print, including the Continuing Maintenance Program (CMP) that accompanies many transfers. You’ll gain clarity on what CMP requires—such as restoration plans, escrow funding for long-term upkeep, and how these obligations affect deal structures.

​You’ll walk away with:

• ​How the expanded transfer rules unlock untapped value in your property

• ​The key nuances that can shape feasibility and timelines

• ​What CMP and other maintenance obligations mean for negotiations

​Whether you own a landmark, are developing adjacent sites, or invest in New York City real estate, this is your chance to understand—and capitalize on—the latest rules.

​Agenda:

• ​12:00–12:30 PM: Registration & Lunch

• ​12:30 PM: Opening Remarks – Bob Knakal

• ​12:35 PM: Landmark Air Rights Transfers Explained – Gene Travers, Special Counsel – Land Use & Zoning Attorney, Herbert Smith Freehills Kramer

• ​1:15 PM: Panel Discussion on Air Rights
    - Gene Travers
    - Ian Rasmussen
    - Charles Alwakeel
    - Wilson Parry

• ​1:45 PM: Q&A

• ​2:00 PM: Closing Remarks