Real Estate

NYC lets landlords stiff workers and still get 421a tax break

therealdeal.comWhen Isaac Bowman got a concierge job at a Queens apartment building last year, he hoped it would be his ticket out of a homeless shelter and into New York City’s middle class.

The pay was low at only $10 an hour. But at least it was a start toward getting his partner and three stepchildren into an apartment of their own, Bowman reasoned.

Bowman took the job — and became a victim of wage theft.

Under terms of a large city tax subsidy, owners of the 117-unit building, The Exo, were legally bound to pay Bowman $16.88 an hour — almost 70 percent more than he got — plus benefits now worth $10.13 per hour.

Categories: Real Estate

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