As tenants are vacating, rents are being discounted and property values decline throughout New York City, owners are finding alternative ways to make their property work for them. One of the more lucrative opportunities occurs when a property owner taps into unused or excess development rights—a commodity that can be transferred from neighbor to neighbor. (There are some limitations on where development rights can be transferred. One limitation, for example, is that the receiving site of the excess development rights has to be located in the same zoning district (or a zoning district that has the same floor area ratio) as the granting site.)