Creative ways to get a deal to pencil

I am working on a MF development deal in Brooklyn and the numbers are tight. Other than alternative means of construction and increasing leverage, and 421(a)/Affordable New York, are there any other programs that could help us get over the hump?

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Not super familiar with the NYC market but you could explore getting a PILOT (payment in lieu of taxes) program done - where you give the municipality additional affordable units or something along those lines and in return they abate some percentage of RET for a given period of time.

Depending on where you are in design you may want to explore some design tweaks or even a complete overhaul to make sure you are maxing out your efficiency ratio.

Solar panels can help boost your yield if they take over the common area utility load, particularly if you factor in the tax incentives.

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Authored by: Certified Real Estate Professional - DeveloperCertified Real Estate Pro

REAcquisitionsnyc

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Creative ways to get a deal to pencil

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