Section 22-105. Wharf property; proceedings to acquire

a. The commissioner
  may agree with the owners of any wharf property, or uplands upon a price
  for the same and shall certify such agreement to the mayor. If the mayor
  approve such agreement, the commissioner shall take from the  owners  at
  such  price,  the  necessary  conveyances and covenants for vesting such
  wharf property or uplands in, and assuring the same to the city  of  New
  York  forever,  and such owner shall be paid such price by the city. If,
  however, the commissioner shall determine that the city  should  acquire
  such wharf property or uplands by condemnation, without first attempting
  to agree with the owners thereof for its purchase, the commissioner may,
  with  the  approval  of the mayor direct the corporation counsel to take
  legal proceedings to acquire the  same  for  the  city.  Thereupon,  the
  corporation  counsel  shall  take  the  same proceedings to acquire such
  wharf property or uplands as are provided  for  the  taking  of  private
  property in the city for public streets or places, and the provisions of
  subchapter  one  of  chapter  three of title five of the code are hereby
  made applicable, as far as may be necessary,  in  any  legal  proceeding
  taken   under   this  section.  Before  any  such  proceeding  shall  be
  instituted, a statement shall be furnished to the mayor of the valuation
  of the real  property  to  be  acquired  as  assessed  for  purposes  of
  taxation.  The  title  to  such property shall vest in the city upon the
  date of the filing of the survey or map showing the real property to  be
  acquired   subdivided  into  parcels  corresponding  with  the  separate
  ownerships thereof in the office of the clerk of the county  where  such
  proceeding  is pending; and all of the rights, title and interest of any
  and all of the owners or persons interested in such  wharf  property  or
  uplands, shall cease and determine and be extinguished at such time. All
  the  awards  made in such proceedings for the value of property acquired
  or interests extinguished shall draw  interest  from  the  time  of  the
  vesting of the title in the city.
    b.  The  commissioner, with the approval of the board of estimate, may
  agree, license and permit private owners of any wharf property, to  make
  the  necessary improvements upon their property, so as to conform to the
  water front plan during the period which shall intervene  prior  to  the
  extinguishment  of such private ownership by the city. Such improvements
  shall be made by  such  owners  under  the  supervision  of  or  by  the
  commissioner,  as  may  be  agreed upon, at the cost and expense of such
  private owners, in the first instance, and upon such reasonable terms as
  to reimburse such private  owners  for  such  improvements,  and  as  to
  wharfage  and  other  riparian  rights  thereon and therefrom, as may be
  agreed upon.