SMA secures $56M construction financing for new Gramercy rental
JLL Capital Markets secured $56 million in construction financing for the development of 202 East 23rd Street, a mixed-use, passive house designed rental tower in...
Tag : 421a
AG piles half-a-million in fines on rent regulation cheats
Four New York City developers have been fined over half-a-million dollars after trying to skirt rent regulations. In various schemes to dodge the system, one...
Who still has tax savings as the sun sets on 421a abatement?
The days of 421a are gone — but there are still new developments able to offer the lucrative tax in the city. The 421a program,...
City yanks 421a benefit from 1,700 property owners
More than 1,700 property owners who have not complied with the requirements of the 421a program have had the benefit yanked as part of a...
Tax break 421a provides opportunities for developers and residents alike
By Heidi Burkhart, president and founder, Dane PCG I have heard a lot of criticism of the 421-Âa affordable housing program, which some have deemed...
State lawmakers revive 421a tax break
The New York State Legislature has revived the 421a tax abatement program, ending a stand-off that has persisted for over a year. Now rebranded as...
Cuomo vows to veto 421a bill with no union labor provisions
Governor Andrew Cuomo has vowed to veto any 421a legislation that does not include protections for union labor. In a speech during the Building and...
City threatens to suspend 421-a benefits for 3,103 rental buildings
The city’s Department of Finance has sent letters notifying owners of 3,103 rental buildings, with 37,141 apartments, that their 421-a tax benefits will be suspended...
City cracking down on 421a abuses as new program kicks in
Two weeks after the 421a tax program was resuscitated when the Real Estate Board of New York (REBNY) and the Building & Construction Trades Council...
REBNY, Building Trades reach deal for 421a extension
The Building and Construction Trades Council of Greater New York and the Real Estate Board of New York have reached an agreement to extend the...