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Resource ID: #21455
Subject: Real Estate
Source: Newsday (New York)
Date: 1991-06-28


According to a New York Newsday investigation, "New York has lost about $8 million in tax revenues because of special exemptions granted to buildings leased by New York University and owned by Happ Land Social Club landlord Alex DiLorenzo." A state law allows New York University to maintain tax exemptions on fifteen properties in Greenwich Village along Washington Squre North. The investigation raises the question of whether or not the wealthy, nonprofit New York University should have lucrative tax exemptions while the city has to make up for the money lost.

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