November 30, 2009
Falling real estate prices in New York City are making the prospects of owning or renting commercial property more attractive than they have been in many years. Italian companies that enter the New York City real estate market should understand that the laws relating to the use of land and buildings in the city are extensive and complex. The primary law governing the construction and use of buildings and land is New York's Zoning Resolution. It is long (almost 900 pages, plus maps) and difficult to decipher. The Zoning Resolution and other laws constitute a maze of regulation regarding the use of land and buildings that require professional advice.