Introduction to Transfer of Development Rights in New York City (Update)

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 J. Proulx, 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, we will review 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.

Learning Objectives:

1. Familiarize yourself with the basic language of development rights transfers
2. Prepare to conduct zoning due diligence to determine if development rights have been transferred;
3. Review the documents necessary to transfer development rights