Paper-pusher fail: Building owners may owe city thousands for missing forms

Owner of 100 William Street was fined $100K

TRD New York /
Aug.August 31, 2016 11:10 AM

The owners of more than 2,000 buildings in Manhattan may owe thousands of dollars to the city for failing to file income and expense forms.

The John Hancock Real Estate Group, for example, was fined $100,000 for failing to file such forms (or a form that says they don’t have to) on 100 William Street before a June 1 deadline, the New York Post reported. The city’s Finance Department released a list of properties where owners failed to meet the June 1 deadline, and it included 2,264 properties in Manhattan — 35 of which have an assessed value of more than $10 million.

In Queens, the owners of 3,988 buildings didn’t file the paperwork. Only seven of those buildings were valued at more than $10 million. Brooklyn had 6,009 non-filers, only one of which was for a building worth more than $10 million. In the Bronx, of the 1,904 buildings made the list, one office building had an assessed value of more than $14 million, the Post reported.

Buildings are fined according to their assessed values. The highest fine is $100,000 for buildings worth $25 million or more. Those assessed at $10 million could be fined $40,000, and those worth $15 million could fetch fees of $60,000. [NYP] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
Community Housing Improvement Program director Jay Martin, RSA president Joseph Strasburg and Mayer Brown’s Andrew Pincus with the US Supreme Court (Credit: iStock and Wikipedia)

Behind real estate’s scramble to fight the new rent law in court

Speaker of the New York City Council Corey Johnson (Credit: Getty Images and iStock)

City Council approves package of 17 bills to strengthen tenant protections

Clockwise from top: Related chairman Steven Ross, Mactaggart Family & Partners CEO Philip Mactaggart, a rendering of 456 Greenwich Street, and Caspi Development's Joshua Caspi (Credit: Getty Images, Mactaggart, and MHA Westchester)

Developers of bankrupt Tribeca hotel project think Related might be colluding with their landlord

“If you love your children, leave the building”: Simon Baron accused of harassing tenant over $3.5M buyout

It may soon get easier to hit landlords with criminal harassment charges

City Council seeks to ramp up oversight of vacant property

Here’s how de Blasio will “take” buildings from bad landlords

Money for nothing: Landlords are accused of overcharging tenants for poor renovation work, but is state law to blame?

arrow_forward_ios