New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Midtown New York  | 

Midtown Tops for Tax Exemptions

Three of the five biggest property tax breaks in the U.S. go to buildings in Midtown Manhattan, according to a list compiled by the reporters at Yardi’s Commercial Cafe.

The Bank of America Tower at One Bryant Park, recently developed by the Durst Organization, has the largest tax exemption, with a market value of $1.8 billion and an exempt amount of $74 million. The giant tax breaks are one of the tools local officials use to encourage big, new developments.

Madison Square Garden, at 10 Hudson Yards in Midtown, also made the top five.

For comments, questions or concerns, please contact Bendix Anderson


Get CRE News in 150 words

Connect

Inside The Story

Read More at Commercial Cafe

About Connect CRE

Step 1: Select Education
  • ◦Development
TheGuarantors-01-cube
Chase-19-cube
Money360-26-cube
TaylorStreet-03-Cube