Real Estate ConsultantsPowered by CompliBuddy technologyConsulting & Advisory experts for New York City property compliance.
NYC Property Tax Incentives & BenefitsProperty Tax Exemptions and Abatements incentives calculations are an important part of the financial analysis of a new construction or a rehabilitation development. Whether it is a residential, commercial, or a mixed-use project, our office can offer advisory services to find the tax benefits that would offer the greatest savings available for your development.
421-a(16) Affordable Housing New York Program (AHNYP)
Inclusionary HousingInclusionary Housing program was created to promote affordable housing in the areas where zoning has been modified to encourage new development. The program offers developers additional bonus square footage as known as FAR in return for creating affordable housing units. Our office helps to maximize the benefits of providing affordable housing and increase the return on investment under NYC’s rezoning requirement.
Mandatory Inclusionary Housing Program (MIH)
Voluntary Inclusionary Housing Program (VIH)
Inclusionary Housing Units Allocation
Affordable Independent Residence for Seniors (AIRS)
Affordable Housing Marketing, Lease-up & MonitoringCity5 Consulting is an approved marketing agent of NYC Housing Preservation and Development (HPD) and Housing Development Corporation (HDC) agencies. Our office is authorized to work on marketing, leased up, and compliance monitoring & reporting of affordable housing under various programs such as 421-a(16) Affordable New York, LIHTC, Inclusionary Housing, AIRs and other.*HPD Administering Agent services provided by Rentability, a nonprofit entity founded by one of City5's principals.
New York State DHCRNew York State Home and Community Renewal (HCR) is the state agency responsible for implementing the laws and regulations that govern rent controlled and rent stabilized tenancies. Our DHCR professional represents property owners in various proceedings with this agency.
Initial and Annual Rent Registrations and Amendments
Substantial Rehabilitation Exemtion Application
High Rent Vacancy Exemption Application
Decrease of Service Complaints and Restorations
Building wide, Individial Unit Analysis, Due Diligence & Opinion Letter
ViolationsOur violation removal specialists are highly skilled professionals who represent our clients for violations issued by the DOB, FDNY, DSNY, DOT, NYPD, DEP, DOH, DOHMH, Landmark Preservation and HPD agencies.
OATH Hearing appearances on ECB violations
Certificate of Correction for DOB and FDNY violations
DOB Violation Removal for Elevator, AEU HAZ, Boiler, Construction, Unsafe Building Violations and Emergency Declaration
Civil Penalty Refund for HAZ, Work Without Permit (WWP), and Stop Work Order (SWO)
Full and Partial Vacate Order Removal for DOB And HPD
Full and Partial Stop Work Order Removal for DOB
HPD Violation Removal
DEP Cease and Desist Hearing
ECB Judgment Settlments
L2 filing for Civil Penalty Waiver, Refund and Reduction
HPD Judgment Settlement
AEP, PPI, and LL6 Program Resolution
HPD Judgment Settlement
LP Removal and Dismissal
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I Want My, I Want My, I Want My 421aThe 421a tax program is viewed by developers as critical to the feasibility of new rental construction in New York City. Without it, many developers feel construction of rental housing is not economically viable.
Let’s use, not waste, $1.7 billion for affordable housingIn the 1970s the 421-a program was created to encourage construction in a city facing abandonment. It offered developers a modest, discretionary, 10-year city property tax break to encourage projects that might not have otherwise been built.
Sales of New York City Rent-Regulated Buildings Plummet After New LawA new rent law that provides greater protection to tenants has activated a multibillion-dollar plunge in the sale of regulated-rental apartment buildings. Up until this law passed building owners could make improvements to rent-regulated apartments to increase rent.
5 Common New York City Building Code Violations and How to Remove ThemThere are a multitude of possible violations with varying penalties the Department of Buildings issues every year. Although building owners might be tempted to let violations with lesser penalties slide, it is imperative to resolve those violations. This is due to the fact that they can halt the process of buying, selling or renovating a building due to the routine title search showing all of the reported violations on the property.
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