YuhTyng (“Tyng”) Patka is chair of the NYC Real Estate Tax and Incentives Practice Group and Co-chair of the firm's NYC Climate Mobilization Act Task Force and PACE Financing Practice.
Tyng provides a road map to her clients for the optimal way to minimize their property tax burden. Tyng represents owners in challenging their property taxes (certiorari) and is one of New York City’s top experts on building tax classifications, having successfully argued and litigated on matters relating to building misclassifications which have led to significant tax refunds.
For Tyng’s developer clients, she advises on strategies to reduce a project’s tax liability and represents developers on NYC tax incentive programs such as 421-a, ICAP, and IDA benefits such as FRESH. Tyng also counsels not-for-profit organizations on how to qualify for property tax exemptions for space that they own and occupy and advises nonprofits on leasehold condominium formation as one popular strategy for successfully obtaining property tax exemptions.
Tyng’s practice also includes representing developers on matters relating to Inclusionary Housing zoning benefits before the New York City Department of Housing Preservation and Development (“HPD”). She regularly represents developers on inclusionary housing applications (VIH, MIH, PFASH/AIRS) and provides her developer clients advice on preserving their project’s rights to property tax and zoning benefits simultaneously. Tyng also regularly represents developers in their acquisition or disposition of inclusionary air rights.
Tyng’s representative matters include:
- Successfully reclassifying a building into the proper tax class, resulting in a $250,000 tax refund
- Representing a hotel owner in Manhattan on an ICAP for a $40M renovation
- Representing a developer on a 421-a application for a 227 dwelling unit project in Queens
- Representing a developer on a VIH application for a 154 dwelling unit project in the Bronx
- Advising an owner of a 200,000sf office building in Manhattan on LL97 leasing provisions
- Advising an owner seeking a $20M PACE loan for a $100M project in Queens
- Representing a developer in the acquisition of 23,000 square feet of inclusionary air rights in Brooklyn
- Advising a ground lease lessor on MIH requirements for a 228 unit project in Brooklyn
- Securing a 100% property tax exemption for a not-for-profit school tenant in Brooklyn
- Providing an opinion letter on a project’s 421-a eligibility related to the $150M sale of the project
Additionally, Tyng co-chairs the Firm’s NYC Climate Mobilization Task Force where she has become New York City’s leading legal expert on Local Law 97 of 2019 (“LL97”) and PACE financing’s impact on the NYC real estate industry. Tyng has been invited to speak on numerous panels and authored many articles on LL97 and PACE. Tyng is sought after by New York City’s owners and lenders to advise on how LL97 will impact their real estate portfolio and how to protect against LL97’s financial impact. Tyng regularly advises on LL97 matters relating to due diligence, leasing provisions, and financing. Tyng’s practice also includes counseling owners, developers, senior lenders, and PACE lenders on fitting PACE financing into the capital stack and PACE’s interconnection with property taxes.
Tyng is fluent in Mandarin Chinese. She is admitted to practice in New York, New Jersey, and Connecticut.
- Why New York Can’t Afford to Lose the 421a Tax Incentive, Commercial Observer
- What to Know about NYC Mandatory Inclusionary Housing, Lexis Practice Advisors
- Eliminating 421-a will create more problems and solve none, Crain's New York
- PACE GOes Live in New York: Watch Out for the Pot Holes, New York Law Journal
- Quick Q&A on The Climate Mobilization Act
- Just Say No to Carbon Emissions – What NYC Building Owners and Developers Need To Know About the Climate Mobilization Act
- COVID-19 Does Not Give Relief from NYC's Climate Mobilization Act
- COVID-19’s Effect on Local Law 97 – or lack thereof (Lexis Practice Advisor)
- Understanding the Requirements of the Climate Mobilization Act (Lexis Practice Advisor)
"Last Call for Senior Housing Program" The Real Deal
- "Nightmare at 39 Pearl Street: A Clerical Error Quadruples Taxes" New York Times
- "New Push To Repeal Affordable New York Opens Old Wounds, Stalling Land Market" Bisnow
- "NYC Could Be Overtaxing Hundreds of Small Buildings by Mistake" The Real Deal
- "Property tax revenue rises, but delinquencies and glitches abound" The Real Deal
- "How NYC is Picking up the 'PACE'" New York Law Journal