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David Pfeffer Quoted in Real Estate Law360’s NY Real Estate Legislation to Watch in the 2nd Half of 2018 Feature

July 19, 2018

Construction Group chair David Pfeffer was quoted in Real Estate Law360’s feature, "NY Real Estate Legislation to Watch in the 2nd Half Of 2018." The article highlights areas of legislation and regulation that top New York real estate lawyers will be keeping a close watch on in the second half of the year. David is quoted in two areas: the rezoning of Gowanus and the potential impact of imminent legislation to regulate short-term rentals.

On the topic of rezoning in New York, the article notes that the city of New York is looking to rezone multiple areas of Brooklyn, and lawyers are particularly watching Gowanus to see what kinds of zoning changes those neighborhoods might face. David explains, “the basic premise of zoning is where we want people to work and live. The core issue is density. I think that younger generations are pro-density. Or are not opposed to it. "What we're seeing is community leaders respond to this idea of having denser neighborhoods. Maybe there's not a need to have heavy manufacturing ... in Brooklyn."

Later in the article, David discusses short-term rentals, particularly their contention with strict building codes in buildings zoned for long-term occupants. As the article notes, this year, New York's state legislature started to address the question of potentially legalizing and regulating short-term rentals, which are defined as stays of fewer than 30 days, and attorneys are closely watching this area as New York City could be the next in a wave of cities across the country to legalize such stays. But one of the major hurdles to allowing short-term stays in buildings zoned for long term occupants is the strict buildings codes that differ widely between the two, says the article. "Even if the state amends the state law to permit short-term occupants to reside in long-term building structures, it doesn’t necessarily resolve the problem of the building and construction code,” David says.

Read the full article.

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