This two-bedroom condo sits on the 19th floor of the former Williamsburgh Savings Bank at 1 Hanson Place, whose clock tower has long dominated the now-morphing Brooklyn skyline. It’s got some killer views as a result, with a nice pair of arched windows in the living room that take in New York Harbor and the lower Manhattan skyline.


Photo by Mary Hautman

If you pay taxes on a condo or co-op in this city, you may feel like you’re getting screwed. NYC has a bafflingly complicated property tax structure that’s inherently unfair to co-op and condo owners. And the city knows it.

Which is why they created the co-op and condo tax abatement. Taking advantage of this break can shave hundreds to thousands of dollars a year off of a condo owner or co-op shareholder’s tax bills. Here’s how.