Co-op/Condo Tax Abatement Deadline Approaching Fast

DEPM has submitted to the NYC Dept. of Finance information on all new unit purchases that occurred in 2016 through January 5, 2017 for our co-ops and qualifying (ie: non-421a) condos. Now is the opportunity for any unit owner whose resident status has changed to primary and currently meets the requirements for the tax abatement program to update their status.
If you feel that your unit should have received the abatement in 2016 but did not, please contact your Account Executive in writing, phone or email as soon as possible and we can submit the corrected information on your behalf. The deadline for making changes to your apartment status for the 2016/17 benefits is February 15, 2017 and for 2017/18 benefits the deadline is March 31, 2017. Please visit the City’s website at nyc.gov/ccabatements for more comprehensive details on this program.
In addition, there have been some changes in the STAR abatement program. New applicants who qualify for Basic or Enhanced STAR should now register with New York State instead of applying with the NYC Dept. of Finance and will receive their STAR credit in the form of a check rather than a property tax abatement.The STAR hotline number is 518-457-2036. Or visit the City’s STAR info page at on.nyc.gov/2k9MmJZ

DEPM Videos Highlight Our Strengths

What makes DEPM stand out from the crowd? According to company President Jim O’Connor, “Clearly, what separates us from other management firms is our people. Fully 180 of our 240-plus employees have been with us for over 15 years.”

Toni Hanson, Vice President of Management adds, “We attract great managers and I think it’s because we have a wonderful support group. And because of that our clients stay with us for a long time. I personally have one client that has been with us since the 1950’s. And we’re very proud of that.”

In a recent video, Jim O’Connor also talks about how DEPM is able to save our clients considerable amounts of money: “Our central purchasing department consistently buys supplies at five to 15 percent lower than our competition. We also purchase insurance for our buildings. We have two competing master insurance programs, each of which offers umbrella liability coverage of $150 million aggregate per building.”

When it comes to energy savings, he adds, “We have demonstrated recurring savings of over $3 million a year for the last three years.”

In our Energy Savings video, Peter Lampen, Vice President + Architect for DEPM, adds, “A good example of the kind of savings measures that we’ve been able to implement, which save energy costs for the buildings and reduce their long-term capital expenditures, as well as benefit the City and the environment through carbon reduction, are boiler conversions. This has represented a significant savings to buildings.”

To view the videos in their entirely, visit our YouTube channel at bit.ly/DEPMvideo.

DEPM's long-term staff and cost-savings are two of the things that set us apart from other firms in the industry. Pictured here are VP Toni Hanson, CFO Harris Bornstein, President Jim O'Connor, and VPs Peter Lampen and Elly Pateras. Listen to more on our videos at bit.ly/DEPMvideo.

DEPM’s long-term staff and cost-savings are two of the things that set us apart from other firms in the industry. Pictured here are VP Toni Hanson, CFO Harris Bornstein, President Jim O’Connor, and VPs Peter Lampen and Elly Pateras. Listen to more on our videos at bit.ly/DEPMvideo.