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WATCH: The founders of Slate dish on their favorite deals, the new 421a … & more
May 12, 2017 09:46AM
Unlike the Gary Barnetts and Harry Macklowes of the world, Slate Property Group principals Martin Nussbaum and David Schwartz aren’t interested in developing the next jewel that crowns...
421a land mines: Attorneys sound off on program’s uncertainties
April 27, 2017 01:45PM
Real estate attorney Jay Seiden is pretty sure the city is going to muck up 421a for developers. “Nothing is ever simple,” he said...
This ain’t 2015: Insiders say new 421a program will take time to impact market
April 13, 2017 07:30AM
When 421a expired in January 2016, the city’s investment-sales market had just wrapped up a banner year: $77 billion worth of commercial property traded...
Key aspects of 421a remain foggy
April 12, 2017 08:00AM
Kathryn Brenzel and Will Parker
Late Sunday night, when the New York State Senate finally passed a revenue bill, it put in place a $163 billion budget and revived...
Paydirt: Is it blasphemy to say flagship retail is next in the firing line?
April 10, 2017 11:20AM
We know retail is in the soup. This year, some of the biggest brands have announced mass store closures across the U.S. (J.C. Penney,...
It’s back: Lawmakers revive 421a as Affordable NY
April 09, 2017 11:15PM
Kathryn Brenzel and Will Parker
Two years after a punt to the private sector, lawmakers voted late Sunday to revive the 421a developer tax abatement, part of the state’s...
Proposal to link rent regulation to 421a is nixed: report
April 06, 2017 06:25PM
A proposal by state legislators to keep the new 421a tied to rent regulation has been removed from the realm of legislative possibility, sources...
Mathletes: Here’s why developers say they need 421a to make rentals happen
April 06, 2017 04:05PM
In January, 421a received a facelift in the form of a new name: “Affordable New York.” The rebranding didn’t quite shake the abatement’s association...
Cuomo: 421a is still unresolved because it doesn’t make sense to link the abatement to rent regulations
April 05, 2017 08:34PM
Despite reports that legislators reached a deal to revive 421a, Gov. Andrew Cuomo said Wednesday night that “differences” in opinion still stood in the...
Lawmakers reach deal over 421a by linking it to rent regulation
April 05, 2017 10:55AM
Lawmakers have reached a deal to reinstate 421a after the abatement was set aside in protracted budget negotiations over the weekend, a report claims....
Astoria Cove owner looking to sell site
April 03, 2017 08:30AM
With 421a expected to be revived, the owner of the Astoria Cove megaproject in Queens is looking to sell the site for $350 million....
Outer boroughs are focus of latest
March 31, 2017 09:40AM
Expanding 421a eligibility to outer borough development is at the center of last-minute budget talks in Albany. Gov. Andrew Cuomo and representatives from the...
Senate bill would give 421a to far more condo developers
March 15, 2017 02:00PM
Will Parker and Kathryn Brenzel
A budget proposal from the New York State Senate would greatly increase the number of tax exempt condominium projects in the outer boroughs, confirming...
Building permits up to start the year – but the data warrant a closer look
March 13, 2017 03:50PM
The city issued new building permits for an estimated 4,294 residential units in the first two months of 2017, a sizeable improvement over 2016’s...
WATCH: NYC real estate’s week in numbers
March 10, 2017 04:50PM
A $31 billion valuation for Airbnb, $187 million in unpaid back taxes and 38 trademarks for Donald Trump. In real estate, it’s all about the numbers....
Is 421a too big of a giveaway to developers?
March 09, 2017 10:45AM
Even with wage requirements for construction workers, the proposed replacement to 421a could be too much of a giveaway to developers, according to a...
Lack of 421a leads to bonafide changes at Essex Crossing
February 28, 2017 04:15PM
There are changes afoot at the Lower East Side megadevelopment Essex Crossing, in large part because of the dormant 421a program. Site 8, which...
WATCH: 4 things real estate investors are tracking in 2017
February 22, 2017 07:00AM
With a surprise presidential election and a certain tax abatement program up in the air, uncertainty seems to be the flavor of 2017 thus far....
New bill seeks to reform how AMI is calculated for 421a projects
February 21, 2017 09:15AM
A new bill seeks to change how affordability in housing projects is calculated, a measure that could dramatically reshape the makeup of projects built...
State housing official blames extra costs of new 421a on city
February 17, 2017 12:45PM
Outgoing state housing Commissioner Jamie Rubin on Friday blamed possible additional costs of the new 421a program on Mayor Bill de Blasio, saying that...
Heinz heiress’ 1 Sutton Place manse in contract
EB-5 money up in the air after Greenland agrees to sell Pacific Park site
Douglas Elliman to hold MeToo conference–and Bo Dietl will be part of it
Here’s what the $20M-$30M NYC investment sales market looked like last week
LCRE Group lands $85M refi for FiDi hotel
February 2019 issue
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