June 08, 2023
A year without 421a: Project sales, lawsuits and wasted rezonings
Since state legislators let the property tax break expire last June
Dramatic storylines have emerged from tax break’s expiration
April 28, 2023
Hochul had proposed an extension to the 2026 construction deadline for 421a
Raising the FAR cap also would have eased office-to-residential conversions
Real Estate Board of New York has estimated that without such an extension, some 32,000 planned apartments would not be […]
January 19, 2023
What’s the Plan B for 421a?
It is unclear how projects obligated to include affordable housing can pencil out without 421a.
Some developers are forging ahead
April 05, 2022
Why New York Can’t Afford to Lose the 421a Tax Incentive
421a tax incentive program costs New York City $1.77 billion
The law’s benefits exempt any increase in taxes attributed to constructed improvements to the property
February 11, 2022
Adams backs rent freeze, if analysis supports it
“We anticipate that this year’s RGB data, which board members must take into consideration, will support reasonable rent increases,
Mayor also supports governor’s 421a replacement program
January 28, 2022
NYC Affordable Housing; The End of 421-a and the future of housing incentives
Developers act now to lock in tax incentives provided under the city’s current 421-a program
Will expire on June 15, 2022, and is not expected to be renewed
October 18, 2021
Judge trashes 421a rent overcharge suit against Muss
Win against tenants at a Bed-Stuy rental building
Tenants’ case accuses developer of illegally inflating rents in Bed-Stuy
October 27, 2020
AG piles half-a-million in fines on rent regulation cheats
Attorney General Letitia James, who announced agreements in the four cases involving the fraudulent use of the 421-a program
Four New York City developers have been fined over half-a-million dollars after trying to skirt rent regulations.