N.Y. PBL Law § 28

§ 28. Transfer of state lands or watershed conservation easements to\nthe city of New York for water supply protection purposes. The\ncommissioner of general services may, with the concurrence of the mayor\nof the city of New York, transfer and convey to the city of New York, in\nconsideration of one dollar to be paid to the state of New York and upon\nsuch other terms and conditions as agreed upon by such commissioner and\nthe mayor of the city of New York, parcels of land or watershed\nconservation easements owned by the state and located within the\ncounties of Dutchess, Putnam, or Westchester and within the watershed of\nthe water supply of the city of New York, whether or not such parcels or\nwatershed conservation easements are unappropriated state lands, for the\npurpose of protecting the water supply of the city of New York. The\ncity of New York may, with the prior agreement of the commissioner of\nthe department of health, transfer and convey any such parcels for the\nsole purpose of purchasing lands in areas of higher priority for water\nsupply protection purposes, provided that the city of New York shall\neither (1) transfer and convey to the state of New York, in\nconsideration of one dollar paid to the city of New York, any such\nparcels provided that the city of New York continues to pay real\nproperty taxes on any such parcels and upon such other terms and\nconditions as agreed upon by the commissioner of general services and\nthe mayor of the city of New York; or (2) sell any such parcels to an\nentity other than the state of New York and provide to the state of New\nYork monies equal to the original purchase price paid by the state of\nNew York for such parcels. For purposes of this section, the term\n"watershed conservation easement" shall have the same meaning as defined\nin section five hundred eighty-three of the real property tax law.\n