Landmark Development Rights Transfers in New York City

What City of Yes changed

• Wider receiving area: development rights can go to receiving sites within the landmark's surrounding area, a term the Zoning Resolution defines by location. Before City of Yes, transfers were generally limited to adjacent lots.
• Most transfers are approved by certification of the City Planning Commission Chair instead of a CPC special permit, so they do not go through ULURP.

Which approval you need

• Certification (ZR 75-422): the transfer itself is approved by certification of the City Planning Commission Chair, within limits on how much the receiving site's floor area can increase. No ULURP.
• Bulk changes on the receiving site: if the new building also needs bulk modifications other than floor area, such as extra height, the CPC can grant them separately by authorization under ZR 75-24, up to set limits. This is also outside ULURP.
• Special permit (ZR 74-79): transfers or bulk changes beyond those thresholds need a CPC special permit, which goes through ULURP.

What the application needs

• A joint application from the landmark owner and the receiving site owner.
• Site plans and zoning calculations showing the floor area available on the landmark and the effect on the receiving building.
• A continuing maintenance program for the landmark, reviewed by the Landmarks Preservation Commission.
• Recorded transfer instruments and notices of restriction, filed before building permits issue for the receiving site.

Points to know before you sign

The transfer is permanent. The landmark's floor area is reduced even if the designation is later removed or the building is destroyed. The available floor area is the maximum allowed on the landmark lot, less the floor area of its existing buildings and anything transferred before, so the landmark's zoning history needs to be checked before a price is agreed. The maintenance commitment also runs with the landmark, which makes it part of the deal negotiation.