At Metropolitan Realty Exemptions, we offer a full range of services to help property owners unlock every available benefit. Whether you’re applying for a new program, renewing an existing exemption, or exploring abatements for renovations, we take care of the details so you get maximum results with minimum hassle.
485-x: Affordable Neighborhoods for New Yorkers
We assist developers in securing the 485-X exemption by managing every stage of the process. From eligibility review to affordable unit designation to filing and compliance, our team ensures smooth coordination and full regulatory accuracy.
Provides property tax exemptions for new residential construction or buildings that expand by more than 50 percent. The program encourages affordable housing development while keeping projects financially feasible.
Applies to new residential developments. Developers can gain zoning incentives such as floor area, additional height allowance, etc. by creating or preserving affordable housing units.
We help developers meet New York City’s IH mandates with clarity and precision. Our advisory team manages zoning, reporting, and documentation to ensure inclusive, compliant, and financially sound developments.
Offers property tax abatements for new commercial buildings or major alterations of existing properties. ICAP promotes investment and modernization in New York City’s business districts.
467-m: Affordable Housing from Commercial Conversions
We guide property owners through the 467-m program designed for commercial to residential conversion projects. Our experts oversee all filings, documentation, and compliance requirements to secure and maintain long-term abatement benefits.
Our team manages all DHCR registration requirements with precision and accuracy. We handle rent filings, legal rent reviews, and compliance documentation to protect your building and prevent costly violations or penalties.
Annual wage and benefit standards for certain tax-abated properties are required to maintain eligibility. We will guide property owners and managers to ensure compliance.
Incentivizes developments that lease space to grocery stores in underserved areas. FRESH improves access to healthy, affordable food while strengthening neighborhoods.
Provides property tax relief for buildings owned and occupied by nonprofit organizations. This exemption helps nonprofits focus resources on community services.
Provides tax exemptions and abatements for multifamily buildings undergoing rehabilitation or upgrades. This program helps preserve rent stabilzation while supporting property improvements.
AIRS: Affordable Independent Residence for Seniors
Grants zoning bonuses to developers who include permanently affordable housing for seniors. AIRS encourages age-friendly, affordable residences across the city.
We provide detailed tax forecasts designed to guide smart real estate decisions. Our projections model future liabilities, financial outcomes, and long-term impacts to strengthen your investment strategy.
Through "Reside New York", our HPD-approved agency manages the entire affordable housing lottery process. We ensure full compliance while handling advertising, tenant selection, and lease-up efficiently.
