Abatement filing
485-x & 421-a applications and certifications.
Home / New development & 485-x
New development
485-x and affordable housing, handled by one team.
From the abatement filing to the affordable lottery, DHCR registration and ongoing compliance — we run the entire program so you’re not stitching vendors together.
End to end
Four jobs, one team.
Affordable lottery
HPD marketing, lottery & tenant selection.
DHCR registration
Rent registration and unit certification.
Ongoing monitoring
E-rent rolls and continuous compliance.
485-x essentials
The program, in brief.
Tax-exemption benefit period under §485-x.
Affordable units, weighted to 60–80% AMI.
Registration Notice window after construction starts.
HPD filing fee per unit, by building size.
Figures are indicative and depend on project size, location and program rules. We confirm specifics for your site before filing.
Why one team
Stop stitching vendors together.
The usual way
- A tax firm files the §485-x application
- A separate agency runs the HPD lottery & lease-up
- A third manager handles day-to-day operations
- Three contracts, three points of contact, gaps in between
With Sterea
- One team prepares and files the §485-x application
- The same team runs HPD marketing, the lottery & lease-up
- The same team registers rents with DHCR and manages the building
- One relationship, full accountability, no gaps
Planning a ground-up or gut-reno?
Bring us in early — we’ll map the 485-x path, the affordability mix and the lease-up plan.