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TDR Transfer Development Rights Calculator
TDRs preserve landmark sites while enabling density elsewhere — market for unused FAR.
Net seller proceeds
$26,350,000
Gross TDR value
$28,000,000
Total transaction cost
$1,650,000
How the math works
Gross = FAR × price. Commission = gross × broker %. Net = gross − commission − legal.
80k × $350 = $28M. − 5% × $28M − $250k = $28M − $1.65M = $26.35M net.
How to Use
- Enter sending site unused FAR sqft.
- Enter TDR sale price per sqft.
- Enter receiving site premium $/sqft.
- Enter broker + legal cost.
- Read TDR transaction values.
Frequently Asked Questions
TDR system?
Sending site: has unused development rights (landmark building, historic district, preservation area). Receiving site: can exceed base FAR by acquiring TDRs. Both must be in same zoning district or designated TDR transfer zone. City planners designate. NYC, SF, Chicago, DC, Miami, Portland: active TDR markets. Allows preservation + new development simultaneously.
Market prices?
NYC Hudson Yards area: $500-850/sqft peak. NYC Midtown: $300-750/sqft. SF CBD: $150-400/sqft. Chicago Loop: $50-150/sqft. Miami CBD: $80-250/sqft. Transaction timing matters: hot markets 2015-2019 vs soft 2020-2023 vs recovering 2024. Negotiated per-sqft basis. Large landmarks: $50-500M TDR sales possible.
Who sells / buys?
Sellers: small historic buildings, cemeteries, theaters, religious institutions. Buyers: luxury residential + commercial developers wanting bigger buildings. Seller value: monetize unused FAR without building. Buyer value: legal path to higher FAR. Brokers (Cushman, Eastdil, Ackman-Ziff) facilitate. Transaction complex + long: 6-24 months to close.
Regulatory trends?
NYC: most active TDR market, but value compressed with changing zoning. SF, DC: emerging TDR programs. Florida: limited TDR. Rural TDR: growing for farmland preservation (Napa, Montgomery County MD, Hawaii). Green TDR: carbon credit + development rights bundled. Evolving regulatory landscape — consult with local counsel before major transactions.
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