Monthly Archive: September 2013

Cooperative and Condominium units held in a trust form of ownership, could once again be eligible for the Coop/Condo Tax Abatement


New York City homeowners who own their cooperative or condominium units through Trusts are once again potentially eligible to receive the Coop-Condo Tax Abatement.  Earlier this year, units owned by Trusts and LLCs were barred from receiving this benefit. On July 3, 2013, the State Legislature passed a law which could allow unit owners of […]

Proposed Amendments to the J-51 Regulations


The New York City Department of Housing Preservation & Development (“HPD”) has a hearing scheduled on October 15, 2013 to vote on proposed changes to the J-51 Regulations. Among the proposed changes is the removal of numerous items previously eligible for the J-51 Tax Benefit.  In addition, the proposed regulations give different amounts of benefits […]

Change of filing date to June 1 for the annual Real Property Income and Expense Statement (“RPIE”) filing commencing in 2014


The NYC Department of Finance (“Finance”) requires owners of income-producing properties to file electronically an annual Real Property Income and Expense (“RPIE”) statement. In previous years by law, the RPIE statement was due on September 1st. However, the New York City Administrative Code has recently been amended with respect to filing of (“RPIE”) statements. Local […]