New York City zoning allows unrelated owners of contiguous properties to merge them into a single zoning lot while thereafter still allowing each to remain separately owned and taxed. It is an advantageous concept long overdue in New Jersey.
The foregoing is accomplished by way of a Zoning Lot Development Agreement (ZLDA), which is specifically countenanced by §12-10 (d) of the New York City Zoning Resolution (essentially the City’s governing zoning ordinance, though fearsomely difficult to navigate). Broadly speaking, a properly effectuated ZLDA permits owners of two or more properties within the same tax block, and having at least 10 linear feet of contiguity to aggregate the development rights allocated to each, then reallocate them between the properties as they may agree. For example, where one property is fully developed with less than the fully permitted floor area, the excess may be transferred to a contiguous property, which can then be developed with more floor area than would otherwise be permitted by the Zoning Resolution. The “merger” of the properties for zoning purposes is then binding on all successors and assigns.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
