Tenants Take the Hit as New York Fails to Police Huge Housing Tax Break

Monday, December 7, 2015
Tenants Take the Hit as New York Fails to Police Huge Housing Tax Break
 
When prominent New York developer Jed Walentas asked the city to approve a set of sleek towers on Brooklyn’s industrial waterfront last year, he pitched his company as a player that always abides by the rules. . .
 
An investigation by ProPublica into one of Two Trees’ major developments in downtown Brooklyn shows that regulators stood by as the company flouted laws requiring rent stabilization in exchange for a large property tax break it received. . .

 

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