421g Exemption (expired on June 30, 2006)

A partial exemption and abatement was given for converting nonresidential buildings to residential use in the eligible Lower Manhattan revitalization area for a maximum period of twelve years. The New York State Legislature did not renew the exemption and abatement and it expired on June 30, 2006. The deadline for new applications was December 30, 2007.

For more information contact the NYC Department of Housing Preservation and Development.