Real Estate News

Real Estate News / 1566411

New State Law Allows Development Rights To Move Inland From Flood-Prone Areas

authorStaff Writer on Dec 3, 2019

To aid in the relocation of development from areas at high risk of flood to areas with lower risk, a new state law authorizes the owners of flood-prone properties to transfer their development rights inland.

Assemblyman Fred W. Thiele Jr. of Sag Harbor was the prime sponsor of the legislation that Governor Andrew Cuomo signed into law last month. Under the law, land identified as at risk from sea-level rise, flooding and storm surge, and land on steep slopes, will be eligible to send development rights to land that is better suited to development.

Transfer of development rights, or TDR, is “a land use tool that provides municipalities in New York State with an effective and flexible mechanism for balancing both the development and preservation of land,” according to Mr. Thiele’s office.

As “sending areas,” flood-prone properties that are opted into the program will remain undeveloped. The “receiving areas” will then be eligible for a higher concentration of development and mixed uses.

“We are already seeing the adverse effects of climate change across our region, and extreme-weather events are becoming more frequent and more catastrophic,” Mr. Thiele said in a statement. “It is vitally important that municipalities in vulnerable, flood-prone areas have the necessary tools to protect themselves from storm damages and the related costs.”

You May Also Like:

New Path to Homeownership Opens at The Gables

The going rate for a condo in The Gables at Westhampton Beach, a 45-unit complex ... 11 Nov 2025 by Staff Writer

A Rush at the Top: $20M+ Sales Increase as Median Home Price Slips in Third Quarter

Before the third quarter home sales report even dropped, Judi Desiderio had a feeling that ... by Michelle Trauring

Veteran Hamptons Broker Ed Bruehl Moves to Christie’s With Plan to Grow Brand’s East End Presence

About two months ago at Top of the Rock, Ed Bruehl found himself sitting across ... by Michelle Trauring

Bridgehampton Oceanfront Estate Trades in $57M Off-Market Deal

The new owners of the striking modern estate at 125 Mid Ocean Drive in Bridgehampton ... 10 Nov 2025 by Staff Writer

$31.5 Million Sale of East Hampton Oceanfront Estate Marks One of the Year’s Biggest Deals

Nearly two months ago, the estate at 33 Lily Pond Lane in East Hampton closed ... 4 Nov 2025 by Staff Writer

North Fork Real Estate Hits New High With $11.2 Million Cutchogue Sale

The North Fork has done it again. On Thursday, October 30, the $11.2 million sale ... 3 Nov 2025 by Michelle Trauring

Georgica Pond Modern With Storied Past Trades for $22 Million

A minimalist home sitting along the shoreline of Georgica Pond, which was famously at the ... 28 Oct 2025 by Staff Writer

Online Auction To Offer Dozens of Suffolk County Parcels in December

Approximately 100 parcels will be sold to the highest bidder during this year’s Suffolk County ... by Staff Writer

Sagaponack, Water Mill Rank Among Nation’s Priciest Zip Codes

The East End has done it again. According to PropertyShark’s 2025 list of priciest zip ... 21 Oct 2025 by Staff Writer

Waterfront Bay Watch Hotel & Marina Hits the Market for $10.5 Million

Have you ever dreamed of owning a waterfront hotel and marina? Now you can, to ... by Staff Writer