David Wilkes, left, and Kevin Clyne, right, with Cullen and Dykman. Courtesy photosNew York’s Property Tax Incentives and Abatements Make Development Feasible
The authors write "Commercial investors in real estate value predictability. New York is a notoriously challenging environment for development, where the entitlement process and taxes are the most common culprits. Investors ask, what is the likelihood the project get approved and how long will it take, and what will the carrying costs be in terms of real property taxes?"
January 07, 2025 at 11:00 AM
7 minute read
Commercial investors in real estate value predictability. New York is a notoriously challenging environment for development, where the entitlement process and taxes are the most common culprits. Investors ask, what is the likelihood the project get approved and how long will it take, and what will the carrying costs be in terms of real property taxes?
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