The building on the left was there first with it's marquee. When they built the one on the right it's fancy architectural awning(?) went right over the marquee.
The Regal Cinema marque fronted on Vesey Street, now Vesey Street is a block to the South.
If Vesey was vacated the Embassy Suites canopy encroaches on the Regal's half of the former right of way. I would worry less about the air rights and wonder how they are going to wash the Regal Theater's windows, as the canopy is way to close too the opposite building face.
Paul in PA
This looks like some of the optical illusions commonly used as examples. It is impossible to know for certain exactly where the new awning is located relative to the old marquee.
The pretty lady in the foreground altered my focal point away from the features you mentioned.
Does it depend on whom bought the air rights? or not.
Money talks , nobody walks... 😉
Our local hospital here now that has just released plans for a overhead pedestrian passageway from a new facility across the street that is a 2 lane state hwy. I am interested to see how they are maneuvering to arrange construction.
In all probability, the Battery Park City Authority owns the air rights. Parcels of land are leased to developers who build in accordance with the Authority's guidelines.
The marquees in question do not protrude into a street, but rather a walkway between the Embassy Suites Hotel/Regal Theater Building and the new Goldman Sachs headquarters, currently known as Goldman Sachs Alley.
As of now, the Embassy Suites is being converted to The Conrad, a luxury Hilton Hotel brand. The large marquee, attached to the Goldman Sachs building, is presumably designed to keep rich bankers and traders dry when the decide to venture over the hotel for a drink on rainy days.
On the upside, our favorite pizza place, Adrienne's, is opening a branch right there under the marquee. Maybe we can pick up some good investment tips at the bar.