New York City Built 33,974 Homes in 2024, Setting a RecordNew York City experienced the highest number of home completions since 1965 due to developers racing to finish projects before the 421-a tax break expiration.
Extension for 421-a Tax Break Could Add 71K ApartmentsThe extension of the 421-a tax break deadline will allow for the construction of 71,000 new apartments in New York City.
New York City Built 33,974 Homes in 2024, Setting a RecordNew York City experienced the highest number of home completions since 1965 due to developers racing to finish projects before the 421-a tax break expiration.
Extension for 421-a Tax Break Could Add 71K ApartmentsThe extension of the 421-a tax break deadline will allow for the construction of 71,000 new apartments in New York City.
Gov. Hochul says 71,000 new apartments in pipeline thanks to extension of 421-a deadline * Brooklyn PaperGov. Kathy Hochul extended the 421-a affordable housing tax break, allowing 71,000 new apartments to be added to NYC's housing stock.