N.Y. Private Housing Finance Law § 30: Transfer of real property

§ 30. Transfer of real property. 1. Notwithstanding any requirement of

law to the contrary, every executor, administrator, trustee, guardian or

other person, holding trust funds or acting in a fiduciary capacity,

unless the instrument under which such fiduciary is acting expressly

forbids, the state, its subdivisions, municipalities, all other public

bodies, all public officers, persons, partnerships and corporations

organized under and governed as to investments by or pursuant to the

provisions of the banking law or organized under or subject to the

provisions of the insurance law, the superintendent of financial

services as conservator, liquidator or rehabilitator of any such person,

partnership or corporation, owning or holding any real property may

grant, sell, lease or otherwise transfer any such real property to a

company and receive and hold any cash, stock, bonds, notes, mortgages,

or other securities or obligations, secured or unsecured, exchanged

therefor by such company and may execute such instruments and do such

acts as may be deemed necessary or desirable by them or it and by the

company in connection with a project or projects. Notwithstanding the

provisions of any general, special or local law, charter or ordinance,

such grant, sale, lease or transfer may be made without public auction

or bidding.

2. Any banking institution, foundation, labor union, employers'

association, veterans' organization or insurance company, or any group

thereof, which has undertaken a project through direct ownership or

lease may transfer to the project any real property which it owns or

holds within an area. The market value of such property, as approved by

the commissioner or the supervising agency, as the case may be, shall be

included in the estimated or actual project cost.

3. Notwithstanding the provisions of any general, special or local

law, charter or ordinance, the local legislative body of a city having a

population of one million or more may, upon the request of or with the

approval of the board of education of such city's school district,

grant, sell, lease or otherwise transfer any lands or rights or

interests therein or thereto, including fee interest, easements, space

rights or air rights or other rights or interests owned by such city and

occupied or reserved for school purposes and needed therefor, to a

company where necessary for the joint development of a project and a

school or appurtenant facilities without public auction or bidding,

provided that no such sale, lease or transfer of lands or rights therein

or thereto is authorized where the development of a project contemplates

the erection of housing facilities over an existing school or

playground. The term of any such lease shall not be limited by any

provision of any general, special or local law or charter applicable to

such city limiting the period of time during which a lease or any

renewal thereof may run.