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Who still has tax savings as the sun sets on 421a tax abatement?

Though new developers looking to get in on the 421-a tax abatement may be out of luck, there is still a group of new buildings that nabbed the 421-a before it expired in 2016, including the Extell-developed One Manhattan Square, which is able to offer a 20-year tax abatement to the buyers of its Manhattan condos for sale. The 421-a program, created in 1971 as a means of increasing residential development, will provide steady savings for the residents of apartments in this ultra-tall tower on the Lower East Side. They can also enjoy a wealth of special amenities, including a 75-foot swimming pool, full basketball court, bowling alley, wine room, children’s playroom, demonstration kitchen, and 24-hour doorman and concierge.

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