Comptroller Releases Findings of Lost City Revenue in Audit of Department of Finance

The audit report reveals that the misclassification of 140 properties has deprived the City of $1.7 million annually in lost property tax revenue. On February 18, 2016, the Office of the NYC Comptroller publicized the results from its audit of the New York City Department of Finance.  The audit sought to investigate whether the Department of Finance had implemented procedures that adequately safeguard against the misclassification of Brooklyn property sites. The Comptroller’s Office and DOF … <Read More>


Comptroller Audit Reveals the Improper Classification of Queens Properties

The audit report finds that the Department of Finance’s incorrect classification of Queens properties as mixed-use properties resulted in lost revenue for the City. On June 10, 2016, the Office of the City Comptroller Scott Stringer released a report of an audit conducted by the Department of Finance. The audit sought to determine whether the Department of Finance used procedures to ensure that properties classified as mixed-use in Queens had been properly classified.


City Developer Denied Tax Abatement

Court found that application was not filed within the statutory time period of one year. On January 27, 2016, the New York State Supreme Court denied a Brooklyn developer’s petition to reverse a Department of Finance decision to not grant a tax abatement. The Developer, 96 Wythe Acquisitions, filed the petition after the Department of Finance denied the application for the tax abatement because it was not filed within the mandatory one-year requirement. 96 Wythe … <Read More>


Comptroller Audit Finds $10 Million Wrongly Given In Tax Abatements

Audit determined the Department of Finance improperly gave abatements to condos and co-ops owned by corporations over a four-year period.  On January 28, 2016 the Office of the City Comptroller Scott Stringer released a report of an audit conducted of the Department of Finance.  In the final report, the Comptroller’s Office found the Department of Finance wrongly gave out over $10 million worth of property tax abatements to corporate-owned condominums, co-ops, indoor parking spaces, … <Read More>


Center for NYC Neighborhoods Hosts Panel on Affordable Homeownership

The keynote panel focused on the issues and challenges raised by affordable housing creation and preservation in New York City.  On September 30, 2015, the Center for NYC Neighborhoods held its conference on the Future of Affordable Homeownership in NYC.  The event was hosted at New York Law School and sponsored by NYLS, JPMorgan Chase, Goldman Sachs, the Center for Real Estate Studies, the Center for New York City Law, and several other … <Read More>