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New York

Developers could build 4,000 tax-abated homes

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A last chance at tax breaks for new market-rate apartments could spur a slowing construction market. Before next month’s adjustment to limit the city’s 421-a tax abatement program, a last burst of 4,100 new market-rate condos could qualify for the abatements if they break ground before June 30. The program allows developers that build low- and middle-income housing to use abatement certificates for luxury condos.