421a

‘Affordable housing' wins will vanish if NY Legislature doesn't replace 421a

‘Affordable housing' wins will vanish if NY Legislature doesn't replace 421a

2 days ago   |   New York Post

All the cheers as the $2 billion Innovation QNS proposal clears hurdles in the City Council will fade if the plan falters because state lawmakers refuse to replace the expired...
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Will Innovation QNS happen without 421a?

6 days ago   |   The Real Deal New York

Developers notched a major victory Thursday when they reached a deal to allow their Innovation QNS project in Astoria. But amid the celebrations, there was an elephant in the...
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Developers went on permit palooza before 421a expiration

16 days ago   |   The Real Deal New York

Developers whipped themselves into a predictable frenzy in the first half of the year, eager to secure a vital tax break before its expiration. The surge of filed permits...
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For richer or poorer: The hidden cost of low-income housing

16 days ago   |   The Real Deal New York

Once upon a time in New York City, developers could get a tax break for a ritzy rental project by funding affordable housing on the cheap side of town. They didn't even have to...
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Pink Stone faces foreclosure on DoBro rental building

16 days ago   |   The Real Deal New York

Richard Ohebshalom's Pink Stone Capital may be between a rock and a hard place in Downtown Brooklyn. The developer's brick-clad, 103-unit apartment building at 180 Nassau...
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Industry hopes Hochul's win sparks changes to rent aid, 421a

17 days ago   |   The Real Deal New York

Some property owners had thrown their support behind Rep. Lee Zeldin, won over by his stance on crime and confident that he would fix the state's rent aid program. But his...
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Arch Companies resurrects troubled 421a projects in Bushwick

26 days ago   |   The Real Deal New York

The rush to beat the 421a property tax break's expiration in June left the city awash in qualified sites waiting for a developer to step in and build apartments. At three such...
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Brooklyn developers charged with criminal 421a fraud

1 month ago   |   The Real Deal New York

Six Brooklyn developers and their companies face criminal charges for allegedly cheating a property tax break program and fraudulently receiving more than $1.6 million in...
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Samy Mahfar, investors buy 421a site on Houston Street for $37M

1 month ago   |   The Real Deal New York

Manhattan landlord Samy Mahfar is bolstering his downtown residential portfolio with a forthcoming East Village project. Investors including Mahfar's SMA Equities and financial...
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HUBB NYC continues 421a spending spree, buying Park Slope building

2 monthes ago   |   The Real Deal New York

One of New York City's biggest buyers of 421a-eligible properties has added another to its portfolio. HUBB NYC acquired a 13-story, 63-unit residential and retail building at...
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