The real estate industry and construction unions are chipping away at an agreement to replace the property tax break 421a. The Real Estate Board of New York and the Mason Tenders District Council have ...

Developers admitted taking a “leap of faith” when they pitched a $2 billion transformation of five blocks of parking lots and industrial buildings in Astoria, Queens. The most publicized aspect of ...

New York Gov. Kathy Hochul is this year attempting another maneuver to resurrect a generous tax break for developers after lawmakers let it lapse in 2022 — but it comes with a catch that lawmakers won ...

All the cheers as the $2 billion Innovation QNS proposal clears hurdles in the City Council will fade if the plan falters because state lawmakers refuse to replace the expired 421a tax-exemption, ...

In celebrating the creation of nearly 15,000 affordable units and the preservation of more than 10,000 during the last fiscal year, Mayor Adams’ administration made it clear that this would not have ...

Gov. Kathy Hochul’s plan to offer tax benefits for multifamily projects in Gowanus, Brooklyn that missed an expired property tax incentive has developers concerned that the plan’s requirements could ...

Legislators love to whine about the Big Apple’s housing crisis, yet they’re stonewalling Gov. Kathy Hochul’s bid to restore the tax credit behind half the affordable units added in New York City over ...

The 421a program expired in 2022. Developers and many officials say it was crucial in getting rental apartments built, but replacing it is politically challenging. By James Barron Good morning. It’s ...

Gov. Kathy Hochul’s proposed legislative budget for the new year includes another attempt at replacing the expired 421-a developer tax break. But she’s left lawmakers, construction unions and ...

My understanding is that if an apartment building is built and receives the 421a tax benefit it will be subject to rent stabilization for the duration of the abatement. However, the initial rents are ...

I recently purchased a new construction 3 family. It was built attached to another 3 family. I’ve owned it for about 5 months. The developer told me that he is trying to complete a tax abatement, ...