Behind real estate’s red tape nightmare

UPDATED, March 2, 5:17 p.m.: It was the spring of 2015, and New York City developers were madly rushing to get their residential projects approved before the popular 421a tax abatement program expired. But in the midst of the frenzy, the city’s development world hit an unexpected snag: A government employee went on vacation. While that might seem like the punch line of a joke, for developers with millions of dollars of tax breaks on […]

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