N.Y. Real Property Tax Law § 416: United Nations

§ 416. United Nations. Real property owned by the United Nations or

of any world-wide international organization of which the United States

shall be a member and which shall be established and shall provide

international agencies in order to maintain international peace and

security, develop friendly relations among nations and achieve

international cooperation in solving international problems of an

economic, social, cultural or humanitarian character, by taking action

which includes effective collective measures for the prevention and

removal of threats to peace, for the suppression of acts of aggression

or other breaches of the peace and for the bringing about by peaceful

means, and in conformity with the principles of justice and

international law, of the adjustment or settlement of international

disputes or situations which might lead to a breach of the peace,

exclusively used for the purpose of establishing and maintaining thereon

headquarters for offices and for places of assembly for carrying on the

functions of United Nations or other such world-wide international

organization shall be exempt from taxation, special ad valorem levies

and special assessments. The exemption granted by this section shall

continue with respect to such real property as long as it remains the

property of the United Nations or any world-wide international

organization as herein described and is used exclusively for the purpose

of maintaining thereon headquarters for offices and places of assembly

for carrying on the functions of the United Nations or such world-wide

international organization, and no longer. Any building, each portion

thereof, and the land on which such building is constructed, to the

extent and from time to time constituting part or all of the reuse

project defined in chapter three hundred forty-five of the laws of

nineteen hundred sixty-eight, shall be exempt from real property

taxation, provided that in connection with such reuse project, an

agreement shall be entered into with the city of New York providing for

payments in lieu of property taxes with respect to any space in such

reuse project that is not used for carrying on the functions of the

United Nations and is not used for purposes that satisfy the

requirements for exemption from taxation under either section four

hundred eighteen or section four hundred twenty-a of this article.