This Astoria one bedroom is listed for $695,000. It has a 421a tax abatement until 2030. 

If you’re a buyer who is stressed out by the double whammy of high prices and rising mortgage rates, buying in a New York City condo building that still has a 421a tax abatement is one way to take some of the sting out.

These buildings benefit from a tax break and the savings are passed on to you as the buyer, meaning you pay no or lower taxes until the abatement is phased out. While the program recently expired, impacting buildings that have not begun construction, you can find condos that still have several years left on their abatements. 

How can you find one of these apartments? Do a keyword search on listing sites like StreetEasy for “421a”. A recent search on StreetEasy turned up 245 apartments across NYC with tax abatements. Just remember to check out when the abatement expires, because you can find apartments with only a couple of years left, and others with up to 10 years remaining. 

To help with your apartment search, here are five places for sale in buildings with a 421a tax abatement in Central Harlem, Astoria, Greenwood, South Harlem, and Park Slope. 

This one bedroom, one bath is listed for $535,000. The condo has hardwood floors, recessed lighting, stainless steel appliances, quartz countertops, ceiling fans, and an in-unit washer/dryer. The energy-efficient building has a gym, roof deck, package room, and virtual doorman. There’s a 421a tax abatement until 2026. Monthly taxes are $51 and common charges are $390.

This one bedroom, one bath is listed for $695,000. Apartment #6A features a balcony, oversized double-pane windows, hardwood floors, stainless steel appliances, recessed and track lighting, high ceilings, central air, and an in-unit washer/dryer. Amenities include a gym, storage, bike room, and roof deck with grills. The 421a tax abatement expires in 2030. Monthly taxes are $29 and common charges are $466.

This two bedroom, one and a half bath is listed for $750,000. It has a terrace, roof deck, hardwood floors, oversized windows, stainless steel appliances, central air, and a deeded storage unit. The building has a laundry room and there’s a 421a tax abatement until 2031. Monthly taxes are $14 and common charges are $308.

This one bedroom, one bath is listed for $835,000. Apartment #12A has stainless steel appliances, hardwood floors, double-pane windows, central air, a foyer, and in-unit washer/dryer. Amenities include a doorman, gym, roof deck, and bike storage. It has a 421a abatement until 2027. Monthly taxes are $42 and common charges are $850.

This two bedroom, two bath is listed for $950,000. The condo features built-ins, hardwood floors, stainless steel appliances, recessed and track lighting, high ceilings, central air, and an in-unit washer/dryer. Amenities include a doorman, bike room, gym, package room, and playroom. There’s a 421a abatement until 2032 and a $72 monthly assessment. Monthly taxes are $14 and common charges are $828.

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