Monthly Archives: November 2016

The City and State sent 421-a revocation notices to 178 buildings, Monday, claiming that they had received tax benefits without registering rental apartments as stabilized, as required. Thirty five other buildings had their benefits revoked in September and one of … Continue reading →

New York City has dodged a bullet on proposed Small Area Fair Market Rents, for now, under a final rule issued by HUD this week. The use of average rents by zip code to set Fair Market Rents, instead of … Continue reading →

More details of a proposed 421a deal between the Real Estate Board and Building Contractors Association were announced yesterday by Governor Cuomo, who called for a special legislative session before January to approve the measure along with a Memorandum of … Continue reading →

Republicans appear to have kept their majority coalition in the State Senate and two close races on Long Island could give them a clear majority without help from the Independent Democratic Caucus. This may help achieve a workable renewal of … Continue reading →

New negotiations on 421-a were reported this morning. The latest rumors involve a 45 year tax benefit with a minimum wage of $60 an hour for 300-plus unit developments in luxury neighborhoods and $45 an hour elsewhere. Buildings over 25,000 … Continue reading →