421a

The city’s Department of Finance has sent letters notifying owners of 3,103 rental buildings, with 37,141 apartments, that their 421-a tax benefits

By John Banks, President, REBNY Last week, Governor Andrew Cuomo and state legislators agreed on an Omnibus Housing Bill which contains many items beneficial

More than 1,700 property owners who have not complied with the requirements of the 421a program have had the benefit yanked as part of a crackdown on rule-breakers.

Commercial property sales in Brooklyn were incredibly robust in 2015, rising to around $9.5 billion in total dollar volume, according to one market study

By REBNY President John Banks In last week’s column, I explained the significance of the City Council’s vote to approve Mayor de Blasio’s affordable housing

With the 421-a extender set to expire by the end of the year, there are signs that developers are hanging back to see how the negotiations for the tax

New York City’s need for new multi-family rental housing, particularly at below-market rents, is of paramount importance to the City’s continued success.

As the June 15 expiration of the 421a tax abate program approaches, groups advocating for both sides of the debate are intensifying efforts to win public opinion.

The New York State Legislature has revived the 421a tax abatement program, ending a stand-off that has persisted for over a year. Now rebranded as Affordable

Governor Andrew Cuomo has vowed to veto any 421a legislation that does not include protections for union labor. In a speech during the Building and Construction

Two weeks after the 421a tax program was resuscitated when the Real Estate Board of New York (REBNY) and the Building & Construction Trades Council