NYC 99-Unit Apartment Buildings
Sector: Residential • Location: New York City, New York, USA
Source: Bloomberg
Real-estate developers in New York City are constructing buildings with exactly 99 units to avoid higher wage requirements mandated for buildings with 100 or more apartments under the new 485-x tax program. This program requires developers of buildings with 100 units or more to pay workers at least $40 an hour, leading to a trend of smaller projects that deliver fewer apartments and take longer to
- Status
- Under Construction
- Sector
- Residential, Commercial
- Location
- New York City, New York, United States of America
- Updated
- 22 Jul 2026
- Source
- Bloomberg
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Project Information
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Status
Original status | planned/under construction |
Taiyo status | Under Construction |
Taiyo last update | 2026-07-22 |
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| Not available for this record. |
Description
Description | Real-estate developers in New York City are constructing buildings with exactly 99 units to avoid higher wage requirements mandated for buildings with 100 or more apartments under the new 485-x tax program. This program requires developers of buildings with 100 units or more to pay workers at least $40 an hour, leading to a trend of smaller projects that deliver fewer apartments and take longer to execute. |
Original sector | Built Sector |
Location
Country | United States of America (USA) |
State | New York |
City | New York City |
Source
Source | Bloomberg |
URL |
More Details
Record type | Project |
Sector | Residential, Commercial |
Article published date | 2025-09-16 |
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