Seiden & Schein, P.C. has a staff of experienced attorneys who focus on the interplay between drafting
“No Action Letter” condominium declarations and maximizing real estate development tax incentives
(“Tax Benefits”) such as, but not limited to Section 421-a, Section 420-a, Section 420-C, J-51 and the Industrial and Commercial Abatement Program (ICAP). Often, a condominium declaration is used as a legal tool to maximize two or more Tax Benefits in a single building, or even in two or more buildings under the same condominium regime.

Ground lease tenants, as well as fee owners, may be able to apply for multiple Tax Benefits via the
creation of a condominium regime. Also, we have experience with the creation of a “condominium in a condominium”—that is a “sub-condominium” within an existing condominium regime–which is way of securing certain Tax Benefits for the tenant of a single condominium unit, such as a not-for-profit entity.

Seiden & Schein, P.C. has a proven track record of success in helping our clients achieve significant cost savings and increased profitability for their development projects through the effective use of these programs. And, we understand that there is more to maximizing the benefits of these programs than just the legal perspective. That is why we work closely with architects and other professionals involved in development projects to ensure that every aspect of the project is aligned with the goals of these programs. Our collaborative approach ensures that all stakeholders work together towards a common goal and that everyone involved understands the benefits of these programs and how they can be leveraged to achieve the best possible outcomes.

For more information, please visit and contact:

Condominium Declarations

Adam A. Levenson [email protected]

Jane Rosenberg [email protected]

Development Tax Incentives

Jason C. Hershkowitz [email protected]

Office Phone: 212.935.1400