Land Grab: Developers are rushing to buy 421-a eligible properties. Here’s how and why.
Real Estate partner Brett J. Gottlieb spoke to New York Business Journal about real estate developers’ reactions to the impending expiration of the 421-a tax abatement program. The replacement program, which is backed by the Governor, Mayor, and Real Estate Board of New York, likely will not make it into the state budget. The article stated, "The situation has motivated developers to leverage the tax abatement while they still can."
Brett reflected, "Developers have told me time and time again that they simply wouldn’t build without 421-a[.]"
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