At REBNY gala, Hochul pledges to “support” real estate
Just five days before the primary election, Gov. Kathy Hochul told a room full of schmoozing real estate professionals...
421a
The Latest
Dead and buried: 421a is gone. Will it ever return?
The mad rush to qualify projects is over, and with the property tax break 421a expiring today, New York...
Apollo, Witkoff beat 421a deadline with DoBro tower
Time is ticking for multifamily developers trying to score a tax break on projects, but Steve Witkoff likely isn’t...
Real estate bids good riddance to good cause eviction … for now
Albany spent the end of its legislative session pushing through items that had become unexpected priorities — and rendered...
Issue
Capital offense: Legislature largely ignores real estate
With a week to go in the legislative session, Mayor Eric Adams went to Albany to pitch state lawmakers...
HUBB NYC picks up LES rental for $64M
Three weeks before 421a is set to expire, HUBB NYC picked up one of the few apartment buildings developed on the Lower East Side under the program for $64 million. HUBB, led by president...
Eric Adams critiques DOB, wants to roll out “red carpet” for development
Eric Adams knows his audience. “What oil is to Texas, real estate is to New York,” the mayor told...
Council backs off sabotage of 421a
UPDATED May 17, 2022, 7:12 p.m.: As the mayor makes a last-minute push to save an affordable housing tax break, City Council members planned to rally for its demise. With seven working days left...
With 421a dying, apartment project financing “has come to a stop”
Multifamily investors and developers piled into a stately Midtown building Thursday to try to make sense of their turbulent...
News Analysis
The truth about 421a
By now, you’re probably sick of reading about 421a. Really, what’s left to say about this property tax break? A lot, actually. Until now, we’ve been drubbed by supporters and opponents’ tiresome narratives about...