N.Y.C. Admin. Code § 27-657: § 27-657 General requirements.

Except as otherwise specifically provided herein, the foundations of buildings including retaining walls and other structures shall bear on, or be carried down to, satisfactory bearing materials in such manner that the entire transmitted load will be distributed over the supporting soils at any depth beneath the foundation at unit intensities within the allowable bearing values established in this subchapter. In addition, foundations shall be proportioned to limit settlements to a magnitude that will not cause damage to the proposed construction or to existing adjacent or nearby buildings during or after construction.