News & Analysis as of

New York Real Estate Development New Legislation

Cozen O'Connor

New York Note: Hochul Urges Federal Gun Ban, Adams Vetoes Council, Council Immigration Legislation, Client Spotlight

Cozen O'Connor on

Hochul Calls for National “Assault Weapon” Ban- Following the tragic mass shooting in Manhattan this past week, Governor Kathy Hochul urged federal lawmakers to strengthen national gun safety laws. The gunman entered a...more

Cozen O'Connor

New York Note: FY26 Budget Passage, City Legislation, Brooklyn Power 100

Cozen O'Connor on

On June 30, the City Council formally adopted the $115.9 billion FY 2026 budget. The budget includes funding to pilot a new free child care program for children under 2 years old, along with a significant increase in City...more

Cole Schotz

NYC City Council Takes Steps to Reduce Impact of Sidewalk Sheds

Cole Schotz on

Our last post described the changes driven by the New York City Council in its effort to reduce the number and duration of sidewalk sheds found across the city. In addition to the sheer number of sheds in place at any given...more

Cole Schotz

NYC City Council Takes Aim at Overabundance of Sidewalk Sheds

Cole Schotz on

That New York City, in particular Manhattan, is awash in sidewalk sheds is news to no one. This spring, the New York City Council passed several new bills with the intention of curtailing the number of sheds, as more than...more

Cozen O'Connor

Broad Street Brief: FY26 Budget Negotiations Entering HOME Stretch

Cozen O'Connor on

FY26 Budget Negotiations Entering HOME Stretch - Thursday marks the final opportunity for the City Council to advance bills—including those tied to Mayor Cherelle Parker’s $6.7 billion proposed budget and Housing...more

Cozen O'Connor

City Council Approves Atlantic Avenue Mixed Use Plan

Cozen O'Connor on

On May 28, 2025, the New York City Council approved the city-led Atlantic Avenue Mixed Use Plan (AAMUP, pronounced "aim up"), rezoning a low-density industrial stretch of Atlantic Avenue and surrounding blocks in Brooklyn’s...more

Cozen O'Connor

New York Note: Metropolitan Park and NJ Transit Strike Ends

Cozen O'Connor on

NYS Passes Bill for Metropolitan Park Casino Project- Last week, New York State Assemblymembers approved legislation that would allow for the construction of an $8B entertainment and casino complex on 50 acres of Citi...more

Akerman LLP

City of Yes Updates: HPD's New Universal Affordability Preference (UAP) Application Now Available

Akerman LLP on

The New York City Department of Housing Preservation and Development (HPD) released the City's new Universal Affordability Preference (UAP) Application. The program requirements and process for the new UAP program are very...more

Cozen O'Connor

Major Long Island City Rezoning Enters Public Review

Cozen O'Connor on

On April 21, 2025, the New York City Planning Commission (CPC) certified the city-led Long Island City Neighborhood Plan, known as OneLIC, into public review. OneLIC seeks to build on Long Island City’s status as one of...more

Cozen O'Connor

New York Note – Nonprofits, City Legislation, Rent Guidelines Board

Cozen O'Connor on

Mayor Adams has appointed a new Executive Director of the Mayor’s Office of Nonprofit Services, Johnny Celestin. Celestin most recently served as Deputy Director for the Mayor’s Office of Minority- and Women-Owned Business...more

Hinckley Allen

Private Construction Projects Impacted by Changes to NY Prompt Payment Act

Hinckley Allen on

Governor Hochul signed Senate Bill 3539, amending Section 756-a and Section 756-c of the New York General Business Law – better known as the Prompt Payment Act (“PPA”). Because the law can override portions of construction...more

Sheppard Mullin Richter & Hampton LLP

It’s About Damn Time

The City and State of New York have made a handful of announcements regarding plans to roll out imminent changes to the real estate development process to help encourage development and tackle the City’s affordable housing...more

Katten Muchin Rosenman LLP

New York City's Article XI Real Property Tax Exemption Program: Providing Attractive Real Property Tax Benefits for Multi-family...

Key Points - - The Housing Preservation Opportunities Program (the Program) offers attractive real property tax exemptions for multi-family projects located in New York City, including those that may be experiencing...more

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