June 20, 2023
New J-51 tax break emerges from dead housing deal
It is now an abatement-only program that lasts for up to 20 years
Lawmakers approve multifamily upgrade incentive at last minute
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 26, 2023
Brooklyn leads NYC in demolition permits
Slightly fewer demolition permits were approved last year compared to 2021, 4.7% year-over-year decrease
More than 400 buildings in the borough were slated for a wrecking ball last year
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
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
September 11, 2020
In New Development, Buyers Favor the Boroughs
Yes, some buyers are leaving Manhattan. But others are doubling down on Brooklyn.
Construction continues around the City Point complex in Downtown Brooklyn, one of the most active neighborhoods for new condo sales […]