N.Y. PBH Law § 2877

§ 2877. Transfer of real property. Notwithstanding any requirement of\nlaw to the contrary or any provision of any general, special or local\nlaw, charter or ordinance, every executor, administrator, trustee,\nguardian or other person holding trust funds or acting in a fiduciary\ncapacity, unless the instrument under which such fiduciary is acting\nexpressly forbids, and the state, its subdivisions, municipalities, all\nother public bodies, all public officers, persons, partnerships and\ncorporations owning or holding any real property, may grant, sell, lease\nor otherwise transfer any such real property or interest therein to an\neligible borrower and receive and hold any cash, exchanged therefor by\nsuch an eligible borrower and may execute such instruments and do such\nacts as may be deemed necessary or desirable by them or it and by the\neligible borrower in connection with a project or projects and such\nsale, lease or transfer may be made without public auction or bidding;\nprovided, however, that where such real property is within an urban\nrenewal area the disposition thereof shall be in accordance with the\nprovisions of paragraph (d) of subdivision two of section five hundred\nseven of the general municipal law.\n