Qualify
Screen unit count, tenure, borough, Zone A/B status, commencement and completion dates before assumptions harden into the pro forma.
RPTL § 485-x / Affordable Neighborhoods for New Yorkers
485X
New York development, after 421-a. Tax incentives, affordability, labor, filing and compliance—translated into project decisions.
Effective today / Sep 13 2026
HPD homeownership application rule amended: eligible projects may file after at least 50% of units are sold, subject to final proof requirements.2026 construction wage: $42.03/hour for applicable 100+ unit sites.Registration notice generally due within six months of commencement for projects commencing on or after April 20, 2024.485X tracks the rule. You run the deal.HPD homeownership application rule amended: eligible projects may file after at least 50% of units are sold, subject to final proof requirements.
01 / The operating thesis
From statute to site plan.
485-x is not one decision. Building size, location, tenure, site history, affordability, wages, timing, registration and recorded restrictions can change the path. 485X organizes the program around the moments when development teams need an answer.
Run preliminary screen →
Model
Compare affordability elections and threshold effects—especially the economic consequences of crossing 100 units or entering a 150-unit Zone A/B profile.
File
Translate the administrative path into a project calendar: registration, workbook, marketing, application, MWBE affidavit, restrictive declaration and supporting records.
Comply
Track wage, building-service, affordability, rent-stabilization and long-tail ownership obligations that survive far beyond construction.
6
The program begins where a small project becomes a multiple-dwelling strategy.
ANNY benefits generally require six or more dwelling units. At 6–10 units, project teams may need to compare the modest-rental framework with the separate small-project conditions under Option C.
6+base unit threshold
2034commencement deadline
Ten units can be a distinct compliance strategy.
Option C applies only to qualifying 6–10 unit rental projects, excludes Manhattan, limits zoning-lot residential floor area and requires at least half of the units to be rent stabilized.
10 yrsbenefit period
50%+rent stabilized
Ninety-nine is not merely a unit count. It can be an underwriting boundary.
Qualifying 6–99 unit projects under Option B receive a 35-year benefit and generally require 20% affordable units at an average 80% AMI, subject to the full statute and HPD rules.
20%affordable share
35 yrsbenefit period
At 100 units, both affordability and labor analysis change.
Large rental projects move into Option A: generally 25% affordable at an average 80% AMI and 35 years of benefits. Construction wage requirements also become material for applicable 100+ unit sites.
25%affordable share
$42.032026 hourly floor*
At 150 units, geography becomes part of the capital stack.
Qualifying very-large rental projects in Zone A or B can receive a 40-year benefit, with 25% affordable units averaging 60% AMI and enhanced wage formulas.
40 yrsbenefit period
60% AMIaverage affordability
02 / Options A–D
One statute. Four operating profiles.
Drag or swipe. The cards below are intentionally built as a fast project-team briefing, not a substitute for the statute or legal review.
A
Large + very large rental
100+ units, with a separate 150+ unit Zone A/B framework.
Affordable share25%
Benefit35–40 yrs
Average AMI80% / 60%
Labor100+ trigger
B
Modest rental
Designed around qualifying projects with 6–99 residential dwelling units.
Affordable share20%
Benefit35 yrs
Average AMI80%
Construction periodup to 3 yrs
C
Small rental
Special rules for qualifying 6–10 unit rental projects outside Manhattan.
Rent stabilized≥50%
Benefit10 yrs
ManhattanExcluded
Zoning-lot residential FA≤12,500 SF
D
Homeownership
Qualifying 6+ unit homeownership projects outside Manhattan.
Benefit20 yrs
AV / SF≤ $89
Primary residence5 yrs
2026 rule50% sold filing
03 / Preliminary screen
Start with the project facts.
A useful first conversation is not “Can I get 485-x?” It is “Which project profile do these facts point toward—and what must be verified next?”
Project intake
Four inputs produce a preliminary profile. No data is transmitted by this concept calculator.
What the screen does—and does not do.
A unit count can point toward an option, but eligibility can turn on commencement, completion, existing dwelling units, demolition/reconfiguration, zoning-lot conditions, affordability elections, marketing, wages and filing deadlines.
Your project profile will appear here.
For a live transaction, confirm all facts against RPTL § 485-x, HPD Chapter 63, current HPD forms and professional advice.
04 / Threshold lab
99Residential units
What changes when the project crosses 100?
Move the slider. This is a framework for asking better underwriting questions, not a representation that two otherwise identical projects will have identical economics.
≤ 99 units
- Likely rental framework
- Option B*
- Affordable share
- 20%
- Average AMI
- 80%
- 485-x construction wage trigger by count
- No
- Benefit
- 35 years
≥ 100 units
- Likely rental framework
- Option A*
- Affordable share
- 25%
- Average AMI
- 80%**
- 485-x construction wage framework
- Yes
- 2026 minimum for applicable 100+ sites
- $42.03/hr
*Subject to all eligibility requirements. **Very Large Rental Projects in Zone A/B use a different 60% average AMI framework and 40-year benefit.
05 / Filing sequence
Build the compliance calendar before the building.
485-x is operational. Deadlines should be treated as development milestones alongside DOB filings, financing conditions and construction schedules.
Establish the date.
Confirm the statutory commencement facts and preserve the records supporting that date.
Register on time.
For projects commencing on or after April 20, 2024, HPD states the registration notice is generally due within six months of commencement.
Model affordability.
Options A/B require the applicable units workbook and affidavits; after approval, marketing steps and monitoring obligations follow.
Assemble the record.
Use the option-specific application with the MWBE affidavit, draft restrictive declaration and required supporting documentation.
Operate the benefit.
Maintain affordability, stabilization, wage, building-service and ownership compliance for the applicable period—and beyond where obligations are permanent.
06 / Labor + wage intelligence
Labor is an underwriting variable.
The NYC Comptroller enforces the 485-x construction-work wage requirements. Building service employees can also be subject to prevailing wage obligations for the applicable benefit period.
| Applicable date | 100+ units | 150+ Zone A | 150+ Zone B |
|---|---|---|---|
| 07/01/2024 | $40.00/hr | Lesser of $72.45/hr or 65% of greatest prevailing rate | Lesser of $63.00/hr or 60% of greatest prevailing rate |
| 07/01/2025 | $41.00/hr | Lesser of $74.26/hr or 65% | Lesser of $64.58/hr or 60% |
| 07/01/2026 | $42.03/hr | Lesser of $76.12/hr or 65% | Lesser of $66.19/hr or 60% |
Source: Office of the New York City Comptroller. Rates and legal requirements should be re-verified before reliance.
The policy underneath the pro forma
Tax benefit. Permanent obligations.
HPD states that affordable housing units under 485-x are permanently affordable, while restricted units are permanently rent stabilized under the program's applicable provisions. This is why 485-x analysis should never stop at the tax line: restrictions affect design, marketing, leasing, operations, refinancing and exit strategy.
Explore compliance →07 / Advisory concept
Bring the right question to the right specialist.
A full 485-x workflow is multidisciplinary. The platform is structured to help a client identify the problem, understand the next decision and coordinate qualified professionals.
Eligibility + option review
Project-fact intake, option mapping, threshold analysis, dates, site-history questions and issue spotting before formal advice.
Development feasibility
Translate affordability, unit thresholds and wage considerations into the questions that belong in a development pro forma.
Filing roadmap
Registration, workbook, marketing, application and document sequencing with a project-specific responsibility matrix.
Wage coordination
Identify when Comptroller rules, notices, records, certified payroll and building-service wage issues need specialist attention.
Compliance calendar
Long-tail tracking for affordability, stabilization, annual certifications and ownership-transition diligence.
Acquisition diligence
Frame 485-x questions for land acquisitions, construction loans, refinancings, sales and development-site brokerage.
08 / 485X Wire
The rule is only useful when the market understands the change.
Primary-source-driven analysis turns agency updates into project-team implications.
Rule change / Sep 13 2026
HPD changes the homeownership application sequence.
Effective today, the adopted amendment allows a homeownership project to file its ANNY application after at least 50% of all units have been sold, with proof for remaining sales required before benefits are granted.
Read the project-team brief →Hello world!
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HPD changes the 485-x homeownership application sequence
Effective September 13, 2026, HPD amended the ANNY application rules for homeownership projects. Here is the practical project-team takeaway.
What is 485-x? A development-first guide to ANNY benefits
A project-oriented explanation of the NYC 485-x tax incentive, its four options and the decisions that should be made early.
99 vs. 100 units: the 485-x threshold developers should model early
Why a single apartment can change the affordability and labor framework of a New York rental development.
Editorial motion / external embed
New York is never finished.
A city rebuilt parcel by parcel is also rebuilt policy by policy. Third-party editorial video; replace or curate from the WordPress template as the publication develops.
A concept with an exit strategy
The category itself is available.
485X.COM is presented here as a concept authority platform for NYC development intelligence. The domain is currently offered for acquisition or lease-to-own through Spaceship.
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