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
By Alistair Gardiner | February 03, 2016 05:55PM

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.

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