New 421-A rules will be a bunch of hooey, developers tell the NY Post:
THE GREAT ABATE
"According to developer Daren Hornig of SAXA, whose properties include The Prime in Chelsea, the change will hurt buyers and actually reduce the amount of affordable housing."
“If you take two comparable buildings side-by-side, one with and one without a 421a, yes, the prices do tend to be higher in an abated building,” says appraiser Jonathan Miller of Miller Samuel.
Photo from NY Post