While projects that are already underway are unlikely to be affected by the expiration of the "421-a" property tax abatement program, several real estate attorneys expressed hope that the program will be renewed, as it has become a key component of negotiating major development deals in the city.
January 25, 2016 at 09:00 AM
1 minute read
Real estate experts said the expiration of the “421-a” property tax abatement program could have a serious impact on future development in New York.
While projects that are already underway are unlikely to be affected, several real estate attorneys expressed hope that the program will be renewed, as it has become a key component of negotiating major development deals in the city.
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