Buyers looking for luxury condominiums in the city can still swoop on multi-million dollar listings and pay almost no property taxes, but the deals in Manhattan are quickly evaporating. When the state legislature approved a new version of the 421a tax abatement (now called “Affordable New York”), it eliminated the break for early all new condominiums. And although the break still applies to condo projects that secured 421a before it was eliminated for Manhattan condos, […]
source https://therealdeal.com/2018/04/26/almost-tax-free-manhattan-condos-are-dwindling/
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