For months, real estate developers across New York City have been on
edge, growing more anxious as the weeks ticked past. The source of their
unease? Renewal of the 421-a tax incentives—a program that provides
the underpinning for virtually all rental housing production in the
five boroughs—was caught in Albany gridlock.
That dynamic might have ended last week with a last-minute accord
between lawmakers, an all-smiles press conference and, on Friday, a
signature from Governor Andrew Cuomo. But developers are still
worried—some, perhaps, moreso now.
Curious to know how this will impact you? Reach out to a Guardian Service Industries expert and we will help you understand. Request a consultation.
Kristopher J.
Patterson
P: 646-442-8985
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