Tremendous value can be added to new buildings in New York City by transferring development rights from one tax 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 often increase their return on investment.
This course, presented by Paul Proulx from Carter Ledyard & Milburn, is designed to introduce you to the basic language associated with the transfer of development rights, some of the lay resources for analyzing the potential for a transfer, and the documents necessary to close a development rights transaction. Finally, Mr. Proulx reviews some of the optional easements and license agreement terms that are typically embodied in the transfer documents.
If you are a real estate, land use, or environmental attorney representing real estate developers, investors, banks, or government agencies in New York City, you should consider this course for an introduction to the basic terms, techniques, and procedures for transferring development rights.
Fine substance but terrible presentation
Good primer course.