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  • 04/23/2025

Tax Incentives Are Booming — And Attorneys Who Know Them Are in High Demand

Real estate developers may be chasing incentives—but it’s the lawyers who understand them that everyone wants. With BBG and Adler & Stachenfeld aggressively expanding their tax-exemptions and zoning practices, attorneys with deep knowledge of 421-a, 485-x, and 467-m are suddenly in high demand. If your expertise lies in helping clients navigate New York’s evolving incentive programs, the market is moving—and it may be moving in your favor.

New York City’s real estate development landscape is buzzing—and lawyers who specialize in navigating the tax and zoning incentive maze are suddenly the most coveted professionals in the room.

Recent strategic hires by Belkin Burden Goldman (BBG) and Adler & Stachenfeld underscore the trend:

🚀 BBG Builds a Tax-Exemption Powerhouse

In March 2025, BBG added five attorneys from Seiden & Schein to form a new Tax Exemptions & Zoning Incentives Department led by Partners David Shamshovich and Jason Hershkowitz—with associates joining them meltzerlippe.com+15chambers.com+15adstach.com+15. The firm cited incentive programs like 485‑x, 421‑a, 467‑m, and ICAP—as well as new zoning bonuses—as key areas of growth lawnews.hofstra.edu+5chambers.com+5adstach.com+5.

Co-Managing Partners Goldman and Altman said the move cements BBG as “the go‑to law firm for real estate developers looking to maximize available tax benefits and housing incentives” adstach.com+9chambers.com+9businesswire.com+9.

📈 Adler & Stachenfeld Doubles Down Too

That same month, Adler & Stachenfeld brought in six attorneys from Seiden & Schein—including co‑founder Alvin Schein and associate Hillary Potashnick—to bolster their newly strengthened NYC Real Estate Tax & Zoning Incentives team adstach.com+9businesswire.com+9finance.yahoo.com+9.

Now co-led by Alvin Schein and firm partner YuhTyng “Tyng” Patka, the group focuses on developer-focused incentive programs like 421‑a, 485‑x, 467‑m, ICAP, and PILOT bbgres.com+15businesswire.com+15adstach.com+15.

What This Means for Real Estate Attorneys

  1. Specialized niche = high leverage. Firms aren’t just asking for generic real estate expertise. They want attorneys who can decipher complex incentive programs—those with deep knowledge of the laws driving development.

  2. New York tax code is evolving fast. Programs like 485‑x, 467‑m, and UAP are recent additions or updates. Being fluent in these isn’t just nice to have—it’s essential. BBG and Adler are building teams to outpace the competition.

  3. Demand is outpacing supply. Firms are actively recruiting specialists with track records in successful incentive structuring. If you’ve handled applications, zoning approvals, or abatements, there’s heightened interest in your profile.

Why Tax-Incentive Attorneys Should Take Notice

  • Better offers and tighter timelines. When firms lack in-house expertise, they’re ready to pay and move quickly.

  • Strategic career paths emerge. You become a sought-after asset, able to pivot between partnerships, boutique practices, or internal firm leadership.

  • Client relationships deepen. Developers stay loyal to attorneys who save them millions through incentives and abatements.

Is This the Right Path for You?

Ask yourself:

  • Have I led applications for 421‑a, 485‑x, 467‑m, ICAP, FRESH, or similar programs?

  • What’s my track record with affordable housing deals or zoning changes?

  • Do I understand how these incentives interact with financing, zoning, tax credits, and PILOT structures?

If the answer is yes, you’re exactly who these firms are vying to hire.

What’s Next

Whether you’re actively exploring or quietly curious, now's the moment to evaluate your options:

  • Update your profile. Emphasize experience with incentive programs, zoning wins, and developer advisory roles.

  • Listen for outreach. Expect calls from firms building out incentive groups—and treat them thoughtfully.

  • Make the decision clear. You’ve invested in this specialty. Don’t let it go undervalued.

Want to Talk Confidentially?

If you’d like a confidential assessment of what your specific niche could earn in today’s market, let’s connect. Firms like BBG, Adler & Stachenfeld, and others are actively competing—and the window won’t stay open forever.


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real estate law nyc real estate attorneys Tax Incentive Programs 421-a 485-x 467-m ICAP Zoning Incentives PILOT Programs