A chronological summary of the recorded instruments and proceedings on the tile of a property.
Air Rights:
The right to build above or add square footage to a structure. These buildable rights are determined by city zoning regulations and public need. Air rights can be sold to adjoining structures for a negotiated price between land owners. Many of the city's taller structures have risen to their final height as a result of purchasing additional air rights from neighboring structures. Case in point is the Trump World Tower currently being built on East 48th Street.
Appraisal:
The process of determining the value of an apartment usually against values of apartments in the same building or similar-type buildings in the immediate neighborhood.
