§ 416. United Nations. Real property owned by the United Nations or\nof any world-wide international organization of which the United States\nshall be a member and which shall be established and shall provide\ninternational agencies in order to maintain international peace and\nsecurity, develop friendly relations among nations and achieve\ninternational cooperation in solving international problems of an\neconomic, social, cultural or humanitarian character, by taking action\nwhich includes effective collective measures for the prevention and\nremoval of threats to peace, for the suppression of acts of aggression\nor other breaches of the peace and for the bringing about by peaceful\nmeans, and in conformity with the principles of justice and\ninternational law, of the adjustment or se
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§ 416. United Nations. Real property owned by the United Nations or\nof any world-wide international organization of which the United States\nshall be a member and which shall be established and shall provide\ninternational agencies in order to maintain international peace and\nsecurity, develop friendly relations among nations and achieve\ninternational cooperation in solving international problems of an\neconomic, social, cultural or humanitarian character, by taking action\nwhich includes effective collective measures for the prevention and\nremoval of threats to peace, for the suppression of acts of aggression\nor other breaches of the peace and for the bringing about by peaceful\nmeans, and in conformity with the principles of justice and\ninternational law, of the adjustment or settlement of international\ndisputes or situations which might lead to a breach of the peace,\nexclusively used for the purpose of establishing and maintaining thereon\nheadquarters for offices and for places of assembly for carrying on the\nfunctions of United Nations or other such world-wide international\norganization shall be exempt from taxation, special ad valorem levies\nand special assessments. The exemption granted by this section shall\ncontinue with respect to such real property as long as it remains the\nproperty of the United Nations or any world-wide international\norganization as herein described and is used exclusively for the purpose\nof maintaining thereon headquarters for offices and places of assembly\nfor carrying on the functions of the United Nations or such world-wide\ninternational organization, and no longer. Any building, each portion\nthereof, and the land on which such building is constructed, to the\nextent and from time to time constituting part or all of the reuse\nproject defined in chapter three hundred forty-five of the laws of\nnineteen hundred sixty-eight, shall be exempt from real property\ntaxation, provided that in connection with such reuse project, an\nagreement shall be entered into with the city of New York providing for\npayments in lieu of property taxes with respect to any space in such\nreuse project that is not used for carrying on the functions of the\nUnited Nations and is not used for purposes that satisfy the\nrequirements for exemption from taxation under either section four\nhundred eighteen or section four hundred twenty-a of this article.\n