Prevailing NY

Introduction

Prevailing wage requirements in New York ensure that building service employees and construction workers are paid fair and lawful wages when projects receive public financial benefits. These regulations apply to projects participating in programs such as 421-a, 485x, ICAP, and other tax incentives. Metropolitan Realty Exemptions helps owners and developers stay fully compliant—protecting both workers and the financial eligibility of the project.

Key Components of Prevailing Wage Compliance

Objective:

Prevailing wage laws are designed to promote responsible development by ensuring fair compensation for labor. Compliance maintains strong relationships with labor organizations and regulators while securing ongoing eligibility for valuable tax exemptions and abatements.

Who Must Comply:

Prevailing wage requirements apply to:

Developers and owners receiving tax incentives
Construction projects funded or supported by public benefit
Properties employing building service staff (e.g., doormen, porters, cleaners)
Projects requiring wage compliance certification as part of NYC or NYS programs

Non-compliance can result in severe financial penalties, legal disputes, and even loss of benefits.

Benefits of Staying Compliant

Maintaining compliance ensures:

Legal Protection — Avoid violations, claims, and enforcement actions
Fair Worker Compensation — Uphold required wages and benefits
Program Eligibility — Maintain qualification for tax abatements/exemptions
Stronger Relationships — Build credibility with regulators and community partners

Conclusion

Prevailing wage laws are a critical part of New York’s real estate compliance landscape. By partnering with Metropolitan Realty Exemptions, developers and building owners secure their tax savings while ensuring workers are compensated properly and projects remain protected from penalties.

Reach out to Metropolitan Realty Exemptions today for expert wage compliance oversight and peace of mind throughout your development.