NY Real Estate Regulations To Watch In The 2nd Half Of 2021

By Andrew McIntyre (July 1, 2021, 2:19 PM EDT) -- A new initiative to convert distressed New York properties into affordable housing and a bid to rezone Brooklyn's Gowanus neighborhood are among the real estate legislation and regulation that lawyers will be tracking closely in the second half of the year.

New York legislators in June passed the Housing our Neighbors with Dignity Act, which paves the way for certain properties to be converted into affordable housing. But experts say it's still unclear how the program will play out.

Meanwhile, the yearslong process to rezone Gowanus is wrapping up, and lawyers will be closely watching potential redevelopment there, as well as any further challenges...

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