Section 7 - Conveyance of property by the city to the corporation; acquisition of property by the city1.The city, acting by the board of estimate thereof, may, by deed, lease or other instrument convey, lease or otherwise dispose of any real or personal property or any interest therein owned or held by the city, without public letting or auction, to the corporation for its corporate purposes, for so long as it shall be in existence notwithstanding the provisions of any law respecting the inalienability of real property by the city, and such conveyance may reserve to the city such rights as shall not restrict the corporation in carrying out its corporate purposes.2.The city may acquire, in the name of the city, by purchase or condemnation in the manner provided by law for the acquisition of real property by the city, real property in the city for the purposes of the corporation or for the widening of existing roads, streets, avenues or highways or for new roads, streets, avenues or highways connecting with a health facility constructed or otherwise acquired by the corporation, or partly for such purposes and partly for other city purposes. For said purposes, the city may close roads, streets, avenues or highways as may be necessary; provided, however, that no state highway or way shall be closed without the consent of the state commissioner of transportation.3.Subject to the approval of the board of estimate of the city, contracts may be entered into between the corporation and the city providing for the property to be acquired by the city and so conveyed, the roads, streets, avenues, or highways to be closed by the city, and the amounts, terms and conditions of payments, if any, to be made by the corporation. Any such contract between the city and the corporation may be pledged by the corporation to secure its bonds, notes or other obligations and may not be modified thereafter except as provided by the terms of the pledge.4.If the corporation determines that the use and occupancy of any real property is no longer required for its corporate purposes and powers, then if such real property was acquired at the cost and expense of the city, the corporation shall, subject to the provisions of section five, paragraphsix, have power to surrender its use and occupancy to the city. The corporation shall, subject to the provisions of section five, paragraphsix, have power to sell, lease or otherwise dispose of said real property at public or private sale or as part of a contract, lease or other agreement entered into under the terms of this act and to use the proceeds derived from the sale, lease or other disposition thereof for its corporate purposes.N.Y. New York City Health and Hospitals Corporation Act Law § 7