What Is a 421a Tax Exemption?
If there is one tax break that everyone in New York City should know, it is 421a tax exemption. This longstanding tax break has cost the city billions in revenue….
421a
Developers went on permit palooza before 421a expiration
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…
Source: The Real Deal
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
Luxury developer to cough up $3M for underpaying workers
A developer in New York City is paying up after violating the conditions of…
Source: The Real Deal
Tankhouse grabs 421a-ready Gowanus development site
Brooklyn-based development firm Tankhouse has agreed to buy the development site at 452 Union…
Source: The Real Deal
