Senior reporter Aaron Elstein's article, "Salvation in the Sky," was honored with a gold medal last week in the National Association of Real Estate Editors' annual journalism contest, in the category of best commercial real estate coverage.
The article told the story of landmark churches whose air rights are their most valuable asset as congregations decline. When those rights are sold, developer can build taller buildings than would otherwise be allowed by city zoning regulations. Some struggling churches seek to sell their air rights to developers who would build several blocks away, a normally forbidden privilege granted by the city to a handful of large religious institutions, including the Archdiocese of New York, St. Bartholomew's Church on Park Avenue, and the Central Synagogue in Midtown.
The NAREE judges said Elstein's "tightly written" story broke down complex issues and explained the different perspectives of concerned parties "in a balanced way." Other publications honored in the contest include the New York Times, The Wall Street Journal, Washington Post, Bloomberg News and The Real Deal.