Services

421a Tax Abatement

In order to receive 421a benefits, multiple applications must be filed with various New York City agencies. Our firm provides consulting and advisory services to analyze, prepare and submit your application, as well as register affordable units with DHCR.

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J51 Tax Abatement

If your property doesn’t qualify for the 421a tax abatement, it might be eligible for a J51, a property tax exemption and abatement for renovating a residential apartment building. The benefit varies depending on the building’s location and the type of improvements.

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ICAP Tax Abatement

The ICAP Program gives tax abatements on property taxes for up to 25 years. Industrial and commercial buildings that are built, expanded, modernized or physically improved are eligible for the program. A property can receive ICAP and 421a benefits at the same time.

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HPD Affordable Housing Marketing

An owner/developer must follow HPD marketing and tenant selection procedures to receive 421a tax benefits. A successful marketing plan with branding and advertising must also meet HPD guidelines.

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Lottery, Applicant Evaluation & Lease-up

HPD requires applicant eligibility appointments and substantive documentation to prove an applicant’s household size, income and assets in order to prove eligibility for an affordable unit.

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HPD Monitoring Compliance

In order to secure 421a benefits, a property must comply with affordable housing regulations for the duration of the tax abatement. An HPD approved monitoring agent ensures a property remains compliant with HPD.

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