The 485-x Tax Exemption Explained: A Deep Dive with Jason Hershkowitz of Seiden & Schein

In this special bonus episode of Shaping the NYC Skyline, we welcome back Jason Hershkowitz, Partner at Seiden & Schein, P.C. and head of the firm’s real estate tax incentives group. Jason's extensive knowledge of New York's complex property tax exemption programs makes his expertise crucial for anyone navigating the city’s evolving real estate landscape. During this episode, Jason dives into the intricacies of the newly enacted 485-x real estate tax exemption, the replacement for the expired 421-a tax exemption program. He thoroughly discusses the statute’s updated affordability requirements and tax benefits, and new requirements including minimum wages and Minority and Women-owned Business Enterprises (WMBE) participation. His analysis not only illuminates the statutory details but also explores their practical implications on project planning and execution, making it essential listening for developers and investors. This episode is packed with crucial information on the new 485-x real estate tax exemption, offering listeners a detailed overview of the statute’s framework and the challenges and opportunities it presents. Tune in to gain valuable insights from one of the foremost voices in real estate tax incentives in New York City, and get a head start on mastering the complexities of this significant legislative update. More on Shaping the NYC Skyline:Website - https://seidenschein.com/LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/Instagram - Shaping the NYC Skyline (@shapingthenycskyline)Facebook - https://www.facebook.com/SeidenScheinYouTube - https://www.youtube.com/@ShapingtheNYCSkylineEmail - [email protected] Email - [email protected] - (212) 935-1400 You can Reach our Hosts by email:David Shamshovich [email protected] Slochowsky - [email protected] Almeida - [email protected] You can Reach Jason by email:Jason Hershkowitz – [email protected]  SEIDEN & SCHEIN, P.C.570 Lexington Avenue, 14th FloorNew York, NY 10022