Accord Real Estate Group
Contact Information: 718-375-2065, 917-804-3198, info@accreg.com

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Jeff Grandis
Sell your property
with
Jeff Grandis
your Brooklyn
neighborhood
real estate broker.
917-804-3198
"I guarantee the finest personalized service in the marketing and sale of your residential and investment property"
Read more about Jeff
Anna Kader
Sell your property
with
Anna Kader
your Brooklyn
neighborhood
real estate broker.
917-378-4033
"My knowledge and experience in technology have proven to be invaluable to our clients in today's Real Estate market" Read more about Anna
CONTACT
INFORMATION:
718-375-2065
917-804-3198
info@accreg.com
January 18th 2017

A key piece to the puzzle in Brooklyn ground up Residential and Mixed Use development of vacant land has been the 421A Tax Abatement which expired in 2016.

Governor Andrew Cuomo has been working on a bill that could replace the 421A Tax Abatement. Cuomo says that “it has been signed off by the real estate community and the labor unions”. Cuomo also said that “it will create 2,500 units of affordable housing per year and give developers 40 years of tax breaks’.

The answer to what is the future of land prices in Brooklyn is where and in what neighborhood you are looking. According to Paul Travers, managing partner at Washington Square Partners “prices in Downtown Brooklyn peaked about six months ago.”

The consensus seems to be that land prices may be off 20% to 30% from peak at the moment, however Brooklyn has become a market unto itself and land prices should keep moving along nicely for several years to come.

If you are thinking of selling your vacant land, development opportunity, residential, commercial or mixed use property in Brooklyn, Queens or Manhattan, call us. You will be very happy that you did.

Thank you.

Accord Real Estate Group