The New York Attorney General requires that all condominium and cooperative offering plans contain a letter from a qualified expert projecting real estate taxes. Often these projections must be combined with an explanation of anticipated real estate tax benefits such as a 421-a exemption or an ICAP abatement. Lenders often require opinion letters as to the value of tax abatement or tax exemption benefits. Letters prepared by our firm have been accepted by numerous banks and are utilized repeatedly in offering plans prepared by major New York developers. The firm has represented many developers, borrowers and lending institutions in the preparation of these letters.