A new investigation into buildings that benefit from the 421a tax abatement by New York Attorney General Letitia James found that four developers in Brooklyn and Queens received the tax break but didn’t live up to the program’s requirements. The developers’ misdeeds ranged from falsely reporting a full building was vacant to not offering rent-stabilized leases to tenants as the program requires in most cases. “Rent-stabilization laws exist to protect tenants, and we will not
source https://therealdeal.com/2020/10/26/not-on-my-watch-ag-tish-james-fines-developers-who-violated-421a/
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