NY Church Air Rights Investment Strategies

A New York development firm has officially entered into a contract to acquire 123,000 square feet of air rights from the historic St. Thomas Church, located at 678 Fifth Avenue.  The development firm anticipates generating billions of dollars in revenue over the next five years as a result of this acquisition.

See the picture to the left as an example of how new construction can be built on top of the church building. The following sections below outline several strategies for making use of church air rights to create significant income, which can benefit both the church and its congregation.

By investing in church air rights, the church has the opportunity to secure all profits generated from these assets. This strategy allows the church to retain full control and maximize financial returns.

Choosing to finance the Air Rights project with a loan allows the church to independently manage every aspect of the development. This approach provides the church with direct oversight, enabling leadership to make key decisions throughout the project's duration and ensuring that the project aligns with the church's vision and objectives.

Ownership Structure: Under this arrangement, the church pays the developer for completing the construction. Once the project is finished and the developer has been compensated, the church attains full ownership of the building. This approach allows the church to secure 100% ownership upon completion of the construction process.

Income generated from church air rights can be used to support church operations and provide aid to the congregation, enhancing the church's ability to serve its community.

As a final strategy, the church can sell its air rights to a developer company. This sale could yield millions of dollars for the church, while allowing the developer to potentially earn billions of dollars from the project.