David Bistricer embraces 99-unit playbook
David Bistricer is taking the 99-unit strategy to the extreme. Bistricer’s Clipper Equity filed plans for seven residential buildings at a long-stalled development site at 1800 Park Avenue in Upper Manhattan, according to filings with the city’s Department of Buildings. Each building would contain 99 units, just under the wage requirement threshold in the state’s new 485x tax abatement program. Together, the buildings would total 693 apartments and about 628,000 square feet. Bistricer confirmed the filings but declined to comment further. The plans appear to be the most extreme example yet of a developer structuring a project to avoid the […]
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