Developers went on permit palooza before 421a expiration
Source:
The Real Deal
Developers whipped themselves into a predictable frenzy in the first half of the year, eager to secure a major tax break before its expiration. A surge of filed permits called for more than 58,000 housing units, a record, according to data from the Department of City Planning. The City reported that’s roughly the same number of permits filed for all of 2015, the last time the 421a tax break expired. Under the since-lapsed program, developers
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