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Moinian Gets 3 Hudson Blvd. Tax Break

NEW YORK CITY—The developer has been formally approved to receive tax abatement benefits for its 1.8-million-square-foot tower in the Hudson Yards District

By Rayna Katz | Updated on February 11, 2015

NEW YORK CITY—The New York City Industrial Development Agency has formally approved the Moinian Group as being viable to receive tax abatement benefits for 3 Hudson Blvd. the developer’s 1.8 million-square-foot tower in the Hudson Yards District.

Under the terms of the process, Moinian has one calendar year from the date of approval to close with the NYCIDA, through an internal process and review, demonstrating that Moinian has procured sufficient financing to proceed with full construction of 3 Hudson Boulevard. 

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