Category: Condominiums

What is efficiency? said jesting Pilate: Part 3, The judgment

8 February, 2017 (08:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   As we’ve seen in Parts 1 and 2 of this surprisingly long post, seeking to reach a conclusion on the public-policy merits of New York’s section 421a tax abatement program, when applied to large condominium developments, Section 421a […]

What is efficiency? said jesting Pilate: Part 2, The analysis

7 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   [Continued from yesterday’s Part 1.]   After all the paired comparisons and the careful quantitative analysis, is Section 421a for condominiums a good program for New York City?   We’re actually twins by different parents   Yesterday’s Part 1, scrutinizing paired-comparison of condo sales throughout New York City over […]

What is efficiency? said jesting Pilate: Part 1, The evidence

6 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   Sources used in this post   Crain’s New York (30 January 2017) NYC Independent Budget Office report dated January 30, 2017 (pdf; green Georgia font),   For governments, subsidies exist for only two purposes: charity or incentive.    The 421a program is intended to spur new construction. It is […]

Bitch, we’re the co-op board

25 July, 2016 (09:00) | Apartments, Co-ops, Condominiums, Harperley Hall, kayfabe, Law, Louise Ciccone, New York City, US News |

  By: David A. Smith   I always thought I should be treated like a star. – Madonna Ciccone Blogs must be entertaining or they are nothing, and few things can be more entertaining than mocking a self-important bloviator playing the do-you-know-who-i-am card, and who better to play the card than the original, the ur-copycat […]

Poor poor pitiful door: Part 5, About a year

18 September, 2014 (09:00) | Apartments, Condominiums, Development, Discrimination, Economics, GAIA, Housing, Inclusionary zoning, Journalism, Linkage, London, Markets, New York City, Rental | 1 comment

[Continued from yesterday’s Part 4 and the preceding Part 1, Part 2, and Part 3.] By: David A. Smith By now, after four parts on a GAIA (God Ain’t It Awful) story about the separation of entrances in a fantastically located mixed-income property on New York’s West Side, readers may have deduced that I think […]