Incentivizing Development
By: James Nelson New Yorkers should be closely watching the negotiations in Albany for the replacement of the current 421-a tax abatement program. The city...
Tag : affordable new york
Gotham JV secures $247M construction financing for Manhattan West tower
A joint venture equity partnership between the Gotham Organization and the Urban Investment Group within Goldman Sachs Asset Management has closed on construction financing for...
Brookfield tops out latest tower in Bankside development
Brookfield Properties has topped out the final tower at the phase 1 site, Third at Bankside, located at 2401 Third Avenue and broken ground at...
Next phase of Brooklyn’s Greenpoint Landing gets underway
Ground has been broken for the next phase of Greenpoint Landing, the 22-acre East River waterfront community that will one day house over 5,500 apartments,...
Who still has tax savings as the sun sets on 421a abatement?
The days of 421a are gone — but there are still new developments able to offer the lucrative tax in the city. The 421a program,...
City plays matchmaker in affordable market to head off ‘predatory investors’
City Hall wants to play matchmaker for affordable housing sellers and preservation-minded buyers. Hoping to safeguard communities from “predatory investors”—developers who flip bargain-priced properties into...
State lawmakers revive 421a tax break
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...
Banks: 421a deal may be weeks away
State authorities are moving forward with a plan to revive the lapsed 421-a tax incentive. On Monday, Governor Andrew Cuomo advanced a replacement plan negotiated...