April 03, 2024

REBNY says its 421a proposal is a final offer

April 1 budget deadline

Construction unions rejected the plan for a new tax incentivized plan, but developers are holding their ground

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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

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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 […]

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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

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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

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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

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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

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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

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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.

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