How High Do Related's Tax Breaks Go?

In addition to the Willet Point development tax break we discussed earlier on Wednesday, the New York City Industrial Development Agency also approved a tax break for the Related Cos.’ projects at Hudson Yards.

The Commercial Observer says Related was approved for a $76.5 million in property-tax exemptions to redesign a 49-story tower at the West Side site, attributing the story to Bloomberg News.

The concession follows October’s IDA approval of a $328 million tax exemption for Related’s 80-story North Tower and attached Hudson Yards retail center, the article notes.

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