Tim Healy, Paul Moses, Author at THE CITY

The Vessel is framed by a glass wall at the Hudson Yards mall.

Big Tax Breaks Get Bigger as Mega-Developers Challenge Assessments

April 11, 2025, 5:00 a.m.April 11, 2025, 9:26 a.m.

Properties in Hudson Yards and Times Square are among the buildings that win millions of dollars in tax appeals even after getting up-front tax reductions — a maneuver New York allows that some other states restrict.

175 Water Street in the Financial District had a rounded glass facade.

Manhattan

Adams to Grant $100 Million in Tax Breaks for Two Office Building Upgrades

Jan. 23, 2024, 5:00 a.m.Jan. 22, 2024, 7:42 p.m.

Owners of largely empty buildings in Midtown East and FiDi are first to get new aid d as addressing a record glut of Manhattan commercial space.

Pedestrians walked by the glass-ed entrance to 3 Times Square.

Development

The High Price of Empty Office Space: Billions in Tax Breaks, With More to Come

Dec. 19, 2023, 5:00 a.m.Dec. 19, 2023, 6:00 p.m.

An analysis by THE CITY shows that long-ago luxury real estate deals from Hudson Yards to Times Square are costing dearly in reduced city tax collections. Now City Hall is rolling out still more tax relief, with little transparency.

Paul Moses

Big Tax Breaks Get Bigger as Mega-Developers Challenge Assessments

Adams to Grant $100 Million in Tax Breaks for Two Office Building Upgrades

The High Price of Empty Office Space: Billions in Tax Breaks, With More to Come

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