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Borough, Block, and Lot (also called Borough/Block/Lot or BBL) is the parcel number system used to identify each unit of real estate in New York City for numerous city purposes. It consists of three numbers, separated by slashes: the borough , which is 1 digit; the block number, which is up to 5 digits; and the lot number, which is up to 4 digits.
The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City. The exemption ...
The New York City Department of Buildings (DOB) is the department of the New York City government that enforces the city's building codes and zoning regulations, issues building permits, licenses, registers and disciplines certain construction trades, responds to structural emergencies and inspects over 1,000,000 new and existing buildings.
The Mayor's Office For People with Disabilities (MOPD) is a liaison to the NYC disability community on behalf of the NYC Mayor's Office. In conjunction with all other city agencies and offices, assess and coordinate city policies relating to all people with disabilities. NYC Media is the radio, television, and online media network of New York City.
Uniform Land Use Review Procedure (ULURP) is a process mandated by the 1975 revision of the New York City Charter that is invoked when a proposed development will affect certain legal protections afforded to the existing area and/or its inhabitants.
Real Estate industry detractors note that inclusionary zoning levies an indirect tax on developers, so as to discourage them from building in areas that face supply shortages. Furthermore, to ensure that the affordable units are not resold for profit, deed restrictions generally fix a long-term resale price ceiling , eliminating a potential ...
S.7000-A is the name given to the current dominant property tax law in effect in New York State affecting New York City. Surrounding areas such as Nassau County have similar laws. The bill was enacted in 1981 in response to the Hellerstein decision (Hellerstein v.
Maximum Base Rent (MBR) is calculated to ensure the rent from rent control units covers the cost of building maintenance and improvements. The formula reflects real estate taxes, water and sewer charges, operating and maintenance expenses, return on capital and vacancy and collection loss allowance.