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:

$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

Vacant Water Mill Parcels Move for Over $6 Million

In Water Mill, four subdivided lots totaling 5.8 acres recently sold on September 17 for ... 14 Oct 2025 by Staff Writer

Southampton Waterfront Home Sells for $12 Million After 15 Years off the Market

For the first time in 15 years, the home at 501 Meadow Lane in Southampton ... by Staff Writer

Three Sales Close Within Village Business Districts

Three sales within East Hampton’s and Sag Harbor’s business districts closed last month, according to ... 7 Oct 2025 by Staff Writer

Sagaponack Estate Trades Hands for $13.65 Million

Earlier this year, a historic, circa-1899 Sagaponack estate traded hands for $13.65 million. On June ... by Staff Writer