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The Real Deal New York
New York has lost more than 400K affordable apartments since 2005: comptroller’s report
September 25, 2018 02:30PM
UPDATED, Sept. 27, 2018, 12:07 p.m.: Nearly 500,000 affordable apartments have vanished from New York City since 2005, according to a new report from...
When 421a was in limbo, developers turned to this tax exemption
May 14, 2018 02:00PM
For roughly 16 months between January 2016 and April 2017, one of developers’ favorite tax exemptions wasn’t an option. Though largely an incentive for...
Sheldon Silver found guilty, again
May 11, 2018 06:10PM
A jury found Sheldon Silver guilty for the second time on Friday, wrapping up the more than week-long re-trial of the former Assembly speaker...
Almost tax-free Manhattan condos are quickly dwindling
April 26, 2018 11:15AM
Buyers looking for luxury condominiums in the city can still swoop on multi-million dollar listings and pay almost no property taxes, but the deals...
HPD suspends 421a for more than 1,700 properties. Here’s who got hit the hardest
March 09, 2018 02:05PM
Officials temporarily halted a tax break for more than 1,700 property owners, including every single owner at the luxury condominium tower at 56 Leonard...
No 421a? Williamsburg developer foots tax bill anyway
March 02, 2018 01:00PM
The developers of a Williamsburg condominium are offering to pay up to $80,000 in taxes for buyers who go into contract by the end...
Alicia Glen calls council members “not that smart” about affordable housing
February 06, 2018 09:00AM
Deputy Mayor Alicia Glen is not very impressed with how much council members know about affordable housing. In a deposition that challenges the city’s...
Are you a condo developer? Do you want a tax exemption? HPD says you better sell all your units first
December 06, 2017 07:00AM
When the state legislature revived the controversial 421a tax abatement in April, it drastically limited the number of exemptions available to condominium developers. And...
SL Green to build FiDi rental under Affordable New York program
December 04, 2017 02:50PM
SL Green Realty plans to build a mixed-income residential rental tower at 183-187 Broadway under the 421a-successor program, the company announced during its annual...
RPA: Pied-à-terre tax, zoning changes could add thousands of homes to city
November 30, 2017 07:30AM
The Regional Planning Association is calling on the city to make changes to zoning regulations that could add thousands of housing units and to...
HPD approves rule change restricting inclusionary housing projects
September 15, 2017 06:00PM
The city’s Department of Housing Preservation and Development this week approved a rule change that bars developers receiving 421a from generating off-site inclusionary housing....
New York state quietly stopped funding a key affordable housing program
August 23, 2017 03:30PM
UPDATED, Aug. 23, 5:03 p.m.: New York state quietly stopped funding housing projects under the 421a and Affordable New York programs with tax-exempt bonds,...
New 421a program no longer gives locals a head start on affordable housing lotteries
July 26, 2017 11:15AM
The city’s refreshed 421a program — now known as Affordable New York — no longer gives locals the chance to apply for affordable units...
Inside Kushner Companies’ murky relationship with rent stabilization
July 24, 2017 02:42PM
Ben St. Clair
Jared Kushner’s habit of not properly filling out paperwork began years before his tenure at the White House. In exchange for receiving a lucrative...
Construction groups have some big concerns with 421a
July 17, 2017 02:15PM
Construction groups are concerned that the city’s implementation of the new 421a doesn’t adequately protect wage requirements on certain projects. As part of the...
HPD says new 421a “undermines” parts of inclusionary housing program
June 29, 2017 05:40PM
The new 421a “undermines” crucial goals of the city’s inclusionary housing program, according to the Department of Housing Preservation and Development. To address the...
City plans to restrict inclusionary housing projects receiving 421a
June 09, 2017 06:20PM
The city is mulling a major change to how 421a and inclusionary housing commingle, one that would prevent developers from shifting certain density bonuses...
Paydirt: EB-5 was Kushner’s kryptonite
May 30, 2017 09:15AM
It took a real estate gaffe for the developer-in-chief to finally sour on his princeling. Jared Kushner , dubbed “The Secretary of Everything” for...
Late to the party: Paul Massey vows to help revive already revived 421a
May 24, 2017 02:13PM
Mayoral-hopeful Paul Massey promised Wednesday to fight alongside Gov. Cuomo to revive 421a. But it’ll likely be a solo battle because the tax break...
Cuomo lovefest: LaBarbera calls governor “greatest in the country” and state’s history
May 18, 2017 12:15PM
Union boss Gary LaBarbera is possibly Gov. Andrew Cuomo’s number one fan. The construction union boss on Thursday called the governor the “greatest” in...
Resi brokerages decry StreetEasy’s latest fee as “blackmail”
Here’s one way to change rent regulation: Hold $16M hostage
Jamaica is getting another resi development
Ken Griffin sets US home record with $238M buy at 220 CPS
Developer of East Village hotel blames a “grass roots campaign of fear and misinformation” for project holdup
January 2019 issue
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