NYC’s Proposed Hotel Special Permit: What You Need To Know

The NYC Department of City Planning is proposing a change to the Zoning Resolution to require a Special Permit for all new hotels.  This change is expected to be law by October.  This means that hotels that are not vested (i.e., grandfathered) under today’s as-of-right zoning will be subject to ULURP. With many hotels currently closed, what does this mean for them when they reopen? Can they reopen as-of-right?  And what is the cost to the future of hotel development? Join us for a discussion of these questions and more at our next brown bag lunch webinar series featuring guest speaker Jonathan Falik, CEO of JF Capital Advisors.