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Xavier High School Transfer of Development Rights

| April 1, 2013

BFJ prepared a zoning analysis for Xavier High School, located in Manhattan's Chelsea neighborhood, to determine the amount of excess development rights or "air rights" available for transfer to an adjacent lot as well as the market value of those air rights. Following our analysis, Xavier partnered with developer Alchemy on an innovative venture that resulted in the expansion of the high school with a new six-story annex, adding classrooms, a gymnasium and recital space. As part of the deal the developer was able to construct a new luxury condominium building, known as 35XV, above the school annex. On September 22, 2013 35XV was featured in the New York Times Magazine article showcasing new luxury developments.

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