Partner David Wilkes Publishes Article in Bloomberg Tax on Proposed Expansion of NYC’s J-51 Tax Incentive and Its Impact on Multifamily Property Owners

Partner David Wilkes has published an article in Bloomberg Tax titled, "Bigger NYC Building Upgrade Tax Break Would Be a Modest Boon." The article discusses Governor Kathy Hochul’s proposal to expand the J-51 tax incentive to increase property tax abatements for multifamily rehabilitation projects and affordable housing renovations. It also notes that potential property tax increases proposed by Mayor Zohran Mamdani could offset those benefits and create financial uncertainty for property owners and tenants.

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