There are just a few weeks remaining until the window closes for construction to begin on buildings seeking to be eligible for 421-a benefits. As uncertainty about the future of the program remains, it has never been more important for developers to make sure that construction has commenced, and that such commencement is well-documented, before the June 15, 2022 deadline arrives.

At this time, we would like to remind you that if your project is seeking to vest pursuant to a foundation or alteration permit, such permit must either be under the same DOB job number as the project’s New Building filing or clearly indicate that it has been filed in conjunction with the New Building filing.

Please contact Jay Seiden or Jason Hershkowitz with any questions you have regarding the current program and the requirements needed to secure its benefits.