Monthly Archive: September 2013

Cooperative and Condominium units held in a trust form of ownership, could once again be eligible for the Coop/Condo Tax Abatement

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September 19th, 2013

New York City homeowners who own their cooperative or condominium units through Trusts are once again potentially eligible to receive the Coop-Condo Tax Abatement.  Earlier this year, units owned by Trusts and LLCs were barred from receiving this benefit. On July 3, 2013, the State Legislature passed a law which could allow unit owners of […]

Proposed Amendments to the J-51 Regulations

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September 17th, 2013

The New York City Department of Housing Preservation & Development (“HPD”) has a hearing scheduled on October 15, 2013 to vote on proposed changes to the J-51 Regulations. Among the proposed changes is the removal of numerous items previously eligible for the J-51 Tax Benefit.  In addition, the proposed regulations give different amounts of benefits […]