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Tuchman Korngold Weiss Liebman & Gelles LLP

6 East 45Th Street 7Th Floor

New York City, New York 10017

United States

Company Description

The law firm of Tuchman, Korngold, Weiss, Liebman & Gelles, LLP, ("TKWLG") is a New York City based law firm in existence since 1949. The primary area of focus is Real Estate Tax Reduction Proceedings ("Tax Certiorari"). In addition to Tax Certiorari, o ... more

Find other employees at this company (18)

Background Information

Employment History


Hy Schrier


Board Member
Greater New York , Inc.

Board Member
Associated Builders

Bar Leaders

Web References (26 Total References)

"Memo of understanding" needed for 421a ... [cached]

"Memo of understanding" needed for 421a says Korngold Tax Attorney Paul Korngold with B'nai B'rith Real Estate Board

"Memo of understanding" needed for 421a says Korngold
421a is a necessity but it's fate remains an uncertainty, said Paul J. Korngold, partner at Tuchman, Korngold, Weiss, Leibman & Gelles, while addressing the a B'nai B'rith Real Estate luncheon last week at the Cornell Club in Midtown.
"What happened most recently was that, when the 421a law was renewed last summer, there was a provision in the law that says, the law is good for any work that starts December 31, 2015. But if you don't start by December 31, 2015, the law is subject to the unions and REBNY."
Korngold clarified the comments, adding, "It didn't exactly say that, it said the largest residential ownership group, which is REBNY." Korngold said that the two sides were tasked with "coming to a memo of understanding as to the use of union labor."
"Guess what didn't happen," Korngold continued.
Korngold said that politics are part of what's holding up a solution and eferenced the tug-of-war between Mayor Bill de Blasio and Governor Andrew Cuomo.
"It's unclear what's going to happen in the spring after the legislature has looked at this after the budget is passed as to whether or not there's going to be a renewal of 421a," said Korngold.

Who's Buying New York? [cached]

"Under the 421-a law, in the 100 percent years, a new building pays on the assessed value in the year before commencement of construction of the building. So the exemption is equal to the increase in value between the old assessment and the new building," said real estate attorney Paul Korngold with Tuchman, Korngold, Weiss, Liebman & Gelles.

For new condominium buildings with more ... [cached]

For new condominium buildings with more than three stories, the city assessment is 45 percent of the apartment's rental market value, which typically results in a much higher tax bill, said Paul J. Korngold, a partner at the law firm Tuchman, Korngold, Weiss, Liebman & Gelles.

According to Paul Korngold, ... [cached]

According to Paul Korngold, a partner at Tuchman, Korngold, Weiss, Lippman & Gelles, LLP, a Manhattan-based tax certiorari and real estate law firm, "In the 1980′s, the New York State Legislature recognized the importance of maintaining cooperatives and condominiums and thus expanded the program to allow all new cooperatives and condominiums as well as existing middle income cooperatives and condominiums to obtain the tax benefits of J-51 for maintaining their building systems."

Attorneys | TKWLG [cached]

Paul J. Korngold

Paul J. Korngold
Paul J. Korngold

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