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New Development, NYC Government, News

Developers struggle to sell 421a sites as construction deadline looms

A few months ago, Douglaston Development’s Jed Resnick thought he’d discovered an opportunity in the death of the 421a tax break. It wasn’t in condominiums or luxury rentals, the only…

Source: The Real Deal
New Development, News

New development boom dead, with mortgage rates a prime suspect

No matter how high developers build, they can’t avoid gravity. New-development contract signings in September fell below pre-pandemic levels for the second time in three months, according to a report…

Source: The Real Deal