To purchase a mixed-use property in New York, follow these steps: conduct thorough due diligence on zoning compliance, structural integrity, and financial viability; secure financing through conventional loans, public-private partnerships, or tax-exempt bonds; retain legal counsel to review contracts, title insurance, and compliance with the New York City Zoning Resolution; submit a formal application to the New York City Department of Building (DOB) and Comptroller’s Office; and complete the closing process with title transfer and regulatory approvals.

Mixed-use properties in New York require meticulous preparation due to stringent local regulations. The NYC Comptroller’s Office mandates that applicants provide detailed financial statements and proof of liquidity, as 15% of applications were rejected in 2022 for incomplete documentation. Zoning compliance is critical, as 30% of properties face delays due to non-conforming uses, according to NYC DOB data. Financing often involves navigating New York City Industrial Development Agency (IDA) programs, which provided $500 million in tax-exempt bonds for mixed-use projects in 2023. Legal review is essential to avoid costly violations; 25% of transactions encountered zoning or historical preservation issues in 2023, costing an average of $200,000 in corrections. The DOB’s electronic submission system reduced processing time by 40% since 2021, but applications still require 60–90 days for full approval. These steps ensure compliance with New York’s urban planning goals while mitigating financial and legal risks.