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New York

This month in real estate history

1955: J-51 predecessor introduced in Council

Mayor Robert Wagner signing a bill into law
Mayor Robert Wagner signing a bill into law

From the October issue: Mayor Robert Wagner’s office introduced legislation providing a tax abatement and exemption for landlords upgrading heating systems in old apartment buildings in the City Council 59 years ago this month.

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The plan targeted the city’s so-called “old-law” tenements, or apartments constructed before 1901. The impetus was to convert heating from room units that often used kerosene, to safer, building-wide systems. [more]