The Real Deal New York

How NYC accidentally gave away $10M in tax breaks: VIDEO

Parking garages, storage spaces improperly received tax breaks meant for condos, co-ops

February 03, 2016 05:55PM
By Alistair Gardiner

A recent audit by city Comptroller Scott Stringer showed that over the course of four years, the city’s Finance Department improperly allocated more than $10 million in tax breaks meant for residential co-ops and condos. Instead, the tax breaks went to range of corporate-controlled properties, including indoor parking garages, storage spaces and gardens.

Watch the video above to see where the Department of Finance went wrong.

For more videos, visit The Real Deal‘s YouTube channel.

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