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Market Update Monday: Goodbye ‘Poor Doors’

Development News // Jun 29, 2015


With the new plans for the 421-a tax abatement set in motion, developers are now saying goodbye to the often disputed ‘poor doors’. In the past developers received a tax break to include affordable units within their luxury buildings. However under Mayor de Blasio’s new rent-regulation bill, tenants will no longer be segregated based on income or apartment prices as “affordable units shall share the same common entrances and common areas as market rate units.’’

As New York City residents, what are your thoughts on this new provision?