New York City’s housing needs are drastically different from those of the 1970s when 421a launched, with our housing market experiencing unforeseen pressure. There’s no doubt the program can be ...

The real estate industry and construction unions are chipping away at an agreement to replace the property tax break 421a. The Real Estate Board of New York and the Mason Tenders District Council have ...

The past two mayoral administrations have both highlighted the importance of housing affordability, yet little has actually been done to create affordable housing. One of the few initiatives that has ...

Out of a seemingly perfect storm of gridlock, an incomplete, last-minute deal on rent regulations and the 421a tax abatement program emerged in Albany late last month. But a key yet-to-be-hammered out ...

The owners of three buildings in Manhattan, Brooklyn and Queens are accused in the suits of falsely registering initial rents with the state Division of Homes and Community Renewal (HCR) in order to ...

There’s no question 421a has fueled development—nearly 117,000 units built since 2010 have qualified for the abatement. But over the past two years, the vast majority of income-restricted units were ...

For those who want to see New York City revive and thrive, the impending demise of the 421a housing-construction abatement, known by its section of state law, may seem like a blow. The annual $1.8 ...

NEW YORK CITY—The new 421a program, now known as Affordable New York, is welcome news for developers and land owners in NYC. In a challenging environment,… NEW YORK CITY—The new 421a program, now ...

The tax exemption known as 421a expired in 2022. A fight over its replacement, called 485x, could have major implications for the city’s future. By Mihir Zaveri Nearly every debate about New York’s ...

It’s been five years since the last fight over New York City’s most controversial development tax break — 421a — and developers are already preparing for the worst when the current version of the tax ...