2006 New York Code - Boundary Disputes; Power To Settle.

 
    §  4-114  Boundary  disputes;  power  to settle. The board of estimate
  shall have power, by three-fourths vote, to settle and adjust by  mutual
  conveyances or otherwise, and upon such terms and conditions as may seem
  to them proper, disputes existing between the city and private owners of
  real  property,  in  respect  to  boundary  lines,  and  to release such
  interest of the city in real property as the corporation  counsel  shall
  certify  in  writing to be mere clouds upon titles of private owners, in
  such manner and upon such terms and conditions as in its judgment  shall
  seem proper.