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Advanced Techniques for the Transfer of Development Rights in New York City

(164 reviews)

Produced on July 20, 2017

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$ 59 Real Estate, Environmental Law, and Administrative Law In Stock
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Course Information

Time 53 minutes
Difficulty Advanced

Course Description

Tremendous value can be added to new buildings in New York City by transferring development rights from one lot to another, allowing buildings to exceed what you would think is allowed under zoning. Such transfers allow developers to leverage existing sunk costs and increase their return on investment.  

This course will review the basic language associated with the transfer of development rights (“TDR”), the lay resources for analyzing the potential for a transfer, and the documents necessary to close an as-of-right development rights transaction between adjacent lots. In addition, this course will introduce you to the TDR regimes in New York City, including certain Special Purpose Districts where development rights can be transferred more freely and the City Inclusionary Housing Program, which allows development rights to be transferred within Community Districts.  

If you are a land use or real estate attorney representing real estate developers, investors, banks, or government agencies in New York City, you should consider this course as a review of the basic terms, techniques and procedures for transferring development rights among adjacent tax lots and pursuant to the TDR regimes established in different districts.


Learning Objectives:

  1. Review basic language associated with TDR
  2. Familiarize yourself with the resources for analyzing a potential transfer and the necessary documents associated with an as-of-right TDR transaction
  3. Understand the various TDR regimes in New York City


Credit Information

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Faculty

Paul J. Proulx

Carter Ledyard & Milburn LLP

Paul J. Proulx counsels and advises clients on all aspects of site development. His practice focuses on land use, zoning and development matters as well as general real estate transactions. Mr. Proulx represents clients before New York City agencies, such as the Department of Buildings, Board of Standards and Appeals, City Planning Commission and Landmarks Preservation Commission. He has extensive experience prosecuting land use applications and drafting the restrictive declarations that accompany them. He regularly negotiates and drafts purchase and sale agreements, zoning lot development agreements (ZLDAs), declarations, licenses, and easements for development rights transactions between adjacent property owners. In addition, Mr. Proulx counsels clients on their 421-a and Inclusionary Housing Program filings with the Department of Housing Preservation and Development.


Mr. Proulx received his B.A. in 1996 magna cum laude from University of Detroit Mercy, his M.S. in City and Regional Planning in 2003 from the Pratt Institute, and his J.D. in 2003 from Brooklyn Law School.


He can be reached at 212-238-8763 and proulx@clm.com.


Practice Areas: 

  • New York City Land Use
  • Real Estate 
  • Environmental


Reviews

WC
William C.

Good presentation.

BE
Barbara E.

Very very knowledgeable on the FAR and other related topics

MB
Michael B.

Excellent info and presentation

JW
Jill W.

This was the best class so far! Thank you - I will be in touch!

TC
Thomas C.

Excellent presentation

DF
David F.

good

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