The Real Deal New York

This month in real estate history

1955: J-51 predecessor introduced in Council
By Adam Pincus | October 16, 2014 04:30PM

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.

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]