Beekman Tower gets tax abatement

June 27, 2008 11:56AM

A community board has signed off on a 20-year 421-a tax abatement for Forest City Ratner’s 76-story Beekman Tower. The board had an emergency meeting on June 18 because Ratner needed a decision by June 19, the day 421-a rules would change and leave the project eligible only for a 10-year abatement. Board Chairwoman Julie Menin said the project includes no affordable housing, but said she didn’t want to jeopardize a school that will be built there. In its June issue, The Real Deal reports on how builders around New York City are racing to get projects started in order to beat the deadline.

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