The Corner: no tax abatement?

I agree!!! esp with the high purchase price compared to other availabilities in the area that have tax abatements.

LIC is now part of the exception area together with Brooklyn and Manhattan so there is no more tax abatement. There are only two other projects in the area with tax abatements and that is because they went in foundation phase before July 2010 which was the deadline. It's worth to note that most of the buildings in the area with a tax abatement are starting to phase off and their taxes will be even higher. The way i see it, you can purchase an apt with a tax abatement and pay a lot more in price or get a discounted price because of no abatement. Either way you won't catch a brake: is either higher mortgage payments or higher taxes. Its worth to note that the taxes are 100% deductible. Check out the exclusion map: http://www1.nyc.gov/assets/hpd/downloads/pdf/GEA_Map.pdf

Anyone out there moving into this place anytime soon?