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NYC Real Estate Tax and Incentives

Practice Group Leader: YuhTyng Patka

The NYC Real Estate Tax and Incentives Practice Group advises NYC real estate owners, developers, and lenders on different methods to maximize the return on their investment by way of minimizing real estate taxes and identifying the project’s eligibility for various real estate tax, zoning, and other benefits administered by various governmental agencies.

Key aspects of the practice include the following:

  • Affordable New York (421-a)

  • Voluntary and Mandatory Inclusionary Housing

  • Industrial & Commercial Abatement Program (ICAP)

  • Tax Certiorari

  • Payment In Lieu of Tax (PILOT) Agreements

  • Food Retail Expansion to Support Health (FRESH)

  • Not-for-profit real estate tax exemptions

The group regularly works with the following governmental agencies:

  • NYC Department of Finance

  • NYC Department of Housing Preservation and Development

  • NYC Economic Development Corporation

  • New York State Division of Housing and Community Renewal

  • New York State Attorney General’s Office

The Firm is one of the few in New York City with the ability to advise its real estate tax and incentives clients alongside other practice groups of significant concern to the client, such as our Land Use and Opportunity Zone Practice Groups.  Working together, the Firm can help a client chart a project plan that maximizes the project’s value while minimizing real estate tax and other costs.

Additionally, we focus on connecting our clients with other real estate players to help our clients grow their businesses, which is a core mission of the Firm and a unique value add platform that we offer to clients.

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