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I'm trying to figure out how to look up how long 421-a market rate rent stabilization will last for a building. I know affordable (aka income-restricted, or lottery) apartments aren't destabilized until a vacancy lease, but I'm wondering about the market rate units.
I know how to look up how many units in a building are stabilized, and what programs / statuses exist for a building through the DAP Portal, but I can't figure out how to see how long is left on stabilization.
For example this unit lists that it has a 421-a surcharge, which can only apply when a unit is in the phase-out period of 421-a rent stabilization. According to this page, the phase-out period duration depends on the length of the 421-a abatement period; for example, for a 25-year 421-a tax abatement the surcharge applies starting in year 22. When I look up that address in the DAP Portal I get this page (so I think in the official records both 453 and 455 West 37th St are this building). I see that as of 2022 all 394 out of 394 residential units are stabilized, and the programs/statuses are "Inclusionary Housing, LIHTC 4%, 421-a Tax Incentive Program".
Is there a place I can look up how long a building will be under 421-a?
This reddit post from 4 years ago doesn't answer my question. Someone said this link would tell you, but it's dead. Someone else said to search through the Dept. of Finance "then dig through some old property tax bills and it should be listed as an exemption somewhere along with the time period of the abatement", but I've dug through all the old tax bills I can find and I don't see this information. Does anyone know specifically where it is?
Any help much appreciated!
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