Recently Jack Jaffa & Associates completed its acquisition of Ben Rottenstein Associates – a respected consulting firm which has been serving the real estate community since 1979. As a result of this merger, Jack Jaffa & Associates has transformed into a stronger and more versatile organization.
For more than three decades, our distinguished team of experienced professionals enabled NYC property owners and developers to maximize tax incentive values for virtually every type of new construction, preservation or major capital improvement project. From luxurious high-rise condominiums to affordable housing projects, from NYC Landmarks to commercial and manufacturing facilities – all of these properties have utilized our tax incentive services.
As a result of our solid expertise in this field, we’ve been enjoying strong working relationships with agencies such as Department of Housing Preservation & Development, Department of Finance, and Division of Housing & Community Renewal, which govern respectively over the following benefit programs:
421-A – Partial Real Estate Tax Exemption Benefits Program which benefits primarily newly constructed buildings containing four (4) or more dwelling units.
J-51 – Tax Exemption Benefits Program which provides tax advantages for rehabilitating or performing major capital improvements in residential properties or provides benefits for properties converting from commercial to residential status.
ICIP/ICAP – Industrial and Commercial Incentives/Abatement Program which benefits newly constructed or modernized commercial or industrial properties. It is absolutely vital that applications for such programs be filed prior to obtaining any permits.
MCI – Major Capital Improvement Rent Increase Program which allows landlords to recoup the cost of building-wide capital improvement expenditures.
In the rapidly changing real estate markets, developing and following through with the right tax incentives strategy is instrumental in cutting operating expenses. This can translate into securing better financing deals and create more attractive marketing conditions for any given property. Jack Jaffa & Associates is dedicated to helping our clients obtain maximum incentive benefits in the shortest possible time. Let us structure a strategy best suited to maximize your building’s potential.
421-A – Partial Real Estate Tax Exemption Benefits Program which benefits primarily newly constructed buildings containing four (4) or more dwelling units.