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Browse: Home / 421-a

421-a

The super rich and property tax

By Karen Argenti on November 21, 2011

I came across the following fascinating article in the Real Estate section of last Sunday’sNew York Times: http://www.nytimes.com/2011/11/13/realestate/the-421a-tax-exemption-dont-say-you-didnt-know.html We all knew that Bronx-based developers were making millions selling 421-a tax certificates to luxury developers in Manhattan… but it’s rare to hear the super rich openly whining and complaining about the fact that they will eventually [...]

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Posted in Communications, Construction, COUNTDOWN TO A NEW MAYOR, Front Page News, Real Estate listings | Tagged 421-a, Countdown to a new Mayor, housing subsidy | Leave a response

COUNTDOWN TO A NEW MAYOR

Mayor Bloomberg has championed the cause of development above all else-- above community integrity, above living wage jobs, above affordability for low and middle income New Yorkers, and above quality of life issues including the sanctity of parkland and historic preservation. Bloomberg has stacked the deck in favor of developers, put their profits above all else, and made it very difficult for communities to protect their viability by asking the important questions: Does this fit the community? Does it bring something the community needs, or only something developers think they can profit from? Is it actually affordable? In the Bloomberg administration, all of that is secondary to encouraging large-scale development, come what may. He has created a war zone in the outer boroughs, where the vast majority of New Yorkers live and try to put down roots. In that context, we can't help but begin a COUNTDOWN TO A NEW MAYOR

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