New York City has a tradition of selling property for only $1. This token transaction amount, as we mentioned in a previous post, is often used as a development incentive for potential buyers, who need to show they have plans and the funds to execute their vision. Now, thanks to the $1 LOTS project, we can see all of the city-owned lots of land sold to developers for $1 since Mayor Bill de Blasio took office in January 2014.

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