Real Estate

Neighborhoods, Real Estate

421-a Tax Abatement Only For Developments Paying Prevailing Wage For Construction Workers

   Developers and construction unions say the new 421a tax abatement is necessary to build new apartments in New York City — but critics disagree. “It’s extraordinarily expensive and it’s taken an inefficient program and made it more inefficient — some more affordable housing units, but mostly it’s just subsidizing […]

News, Real Estate

Can Joseph Ferrara Change Staten Island?

With artisanal food halls, affordable outlets and Instagram-worthy views, the upcoming opening of Empire Outlets could drastically change Staten Island, or at least that’s what Joseph Ferrara, principal partner of BFC Partners, the development group behind Empire, is hoping. “We want to make sure that people stay engaged and we […]