15 Broad Street & Tax Abatement

It appears that they are phased out very close to each other.

See https://tax.tidalforce.org/#search/1000261285 for a chart that shows exemptions over time.

See https://tax.tidalforce.org/#search/1000261285,1000261286 to compare against the next tax lot. You can enter more addresses to compare against other property.

See http://furmancenter.org/institute/directory/entry/421-g-tax-incentive-program

The 421-g Tax Incentive program was a real estate tax exemption and abatement for conversion of commercial buildings, or portions of buildings, into multiple dwellings in most of the areas of Manhattan south of Murray Street, City Hall, and the Brooklyn Bridge. Benefits of the program included a construction period exemption of one year, a 12-year exemption from the increase in real estate taxes resulting from the work, and 14-year abatement of about 80 percent of the real estate taxes paid on the property before conversion. All rental units become subject to Rent Stabilization for the duration of the benefits.

According to this the exemption is 12 years and the abatement is 14 years so they end close to each other.

Your tax will be about $30K with no exemptions or abatements and of course it will keep going up about 6% per year or more (if you make improvements)

Tungsten, I would not buy anything so close to tax abatement expiration. There are always people who will overlook the full taxes. You have to feel that the price is very good even with full taxes.

Ah, just noticed it is in contract.