On this episode of Closed!, recorded live at The Real Deal Forum, Lee sits down with YuhTyng Patka, partner at Adler & Stachenfeld LLP, and one of the leading real estate tax attorneys in the country, to pull back the curtain on one of the most important and least understood forces shaping New York City real estate: property taxes and tax incentives.

Tyng chairs her firm's New York City Real Estate Tax & Zoning Incentives Practice, its Climate Mobilization Act Task Force, and its PACE Financing Practice, and was recently named to Crain's 2026 Notable Women in Law. She works with owners and developers every day on tax certiorari proceedings, incentive programs, and the ever-evolving legislative landscape that determines whether a project pencils out or not.

In this conversation, Tyng breaks down how the property tax system actually works, why the 485x incentive has spawned a wave of 99-unit buildings across the city, and what developers are leaving on the table as a result. She also shares how she uncovered that the city had been misclassifying properties and misinterpreting its own law, winning significant refunds for her clients in the process.

Whether you are a developer, an owner, or a lawyer who wants to better understand the tax side of real estate, this one is not to be missed.

To learn more about Tyng and Adler & Stachenfeld, visit www.adstach.com or find her on LinkedIn. And as always, to learn more about Lee, Mike, and BFKP, visit bfkplaw.com

To find out more about Bergstein Flynn Knowlton & Pollina PLLC, visit our website at bfkplaw.com.

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