February 21, 2023

Commercial Observer

While current zoning laws favor development in New York City, those interested in office-to-residential conversions face a web of legalities, questions about structural considerations, and multiple layers of complex policy, regulation and codes governing the process.

In a feature appearing in Commercial Observer, Stroock special counsels John Egnatios-Beene, Leslie Byrd, and Raymond “Rusty” Pomeroy II each draw upon a unique set of expertise to offer a holistic view of the foundational legal issues developers need to consider.

Collectively they outline:

• issues relating to New York State’s Multiple Dwelling Law, providing requirements for the conversion’s physical aspects;
• limitations set by current New York building code;
• various environmental and climate considerations, specifically compliance with New York City’s Local Law 97 guiding greenhouse gas emissions;
• different building layout options (i.e., rental apartments, condo or co-op, or a hybrid approach involving retail units); and
• how a condo or co-op structure could maximize value.

Read the full article here.

• Acquisitions / Dispositions
• Development and Construction
• Environmental Law
• New York Condominium and Cooperatives
• New York Zoning and Land Use
• Real Estate

• New York