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Are you a condo developer? Do you want a tax exemption? HPD says you better sell all your units first

When the state legislature revived the controversial 421a tax abatement in April, it drastically limited the number of exemptions available to condominium developers. And now, a new rule from the city’s Housing Preservation and Development agency will make it even more difficult for condo developers to receive the 421a benefit, The Real Deal has learned. Deal-makers in Albany did condo developers no favors when they wrote into law a provision that limits the number of […]

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