At Seiden & Schein, P.C., we assist our clients during every step of the development process. That includes ensuring that they take advantage of all potential real estate tax incentives to maximize their project’s bottom line. The work performed by Senior Counsel Hillary Potashnick and Associate Luisa Gutierrez exemplifies this commitment. Potashnick, who has over
On June 16, 2022, buildings that had not yet commenced construction were no longer eligible for 421-a tax exemption benefits under the Affordable New York Housing Program (“ANY”). As a result, developers across the city rushed to start construction by June 15th. Since then, attorneys at Seiden & Schein, P.C. have been poring over concrete
Properties receiving benefits pursuant to the Industrial & Commercial Incentive Program (“ICIP”) and/or the Industrial & Commercial Abatement Program (“ICAP”) are required to file a Certificate of Continuing Use (“CCU”) by January 5, 2023. Failure to file the CCU by the deadline may result in a suspension or revocation of the ICIP or ICAP benefits.