NYC Tax Classes

Hi All,

Just a thought, could one purchase a 10+ unit building and complete Alt 1 renovations to make it 10 units or less and reduce your taxes by putting it to a 2A or 2B? Then update the units and have the tax increases capped.  Essentailly tax class aribtrage?

3 Comments
 

Sure but you're putting in a lot of money and making your building less efficient on a $/sf basis, too.  Plus, DOF is a shitshow and it may take years to get your reduction....

 
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