MGNY Consulting

• Advises real estate owners and developers on NYC property tax and affordable housing matters.
• Uses data-driven, proprietary software and client portals to simplify complex compliance, reporting and appeal processes.
• Helps clients navigate evolving NYC regulations, including new programs and surcharges.

Key service areas

• Affordable housing – Lottery management, marketing, monitoring and compliance for income-restricted housing.
• Property tax management – Ongoing management of NYC property tax obligations, including compliance, appeals, exemptions and reporting.

Track record (as stated on the website)

• 3,000+ affordable units leased.
• 900+ developments with tax abatements secured.
• $23.6M in tax refunds secured.
• $17B+ in property value represented in appeals.
• 2,500+ annual RPIE filings.

Who MGNY serves

• NYC real estate developers.
• Property owners and investors.
• Management companies.
• Owners and developers of income-restricted and affordable housing projects.

Approach

• Family-owned, with a high-touch, high-tech service model.
• Focused on innovation, data and software to improve transparency and efficiency.
• Emphasizes creative, "out-of-the-box" problem solving for complex regulatory and tax challenges.

• Manages the full HPD income-restricted housing lottery process.
• Uses trained and certified project managers.
• Relies on state-of-the-art technology to manage applications, processing and lease-up.
• Focus is on quick lease-up and efficient applicant processing.

Marketing agent services

• Acts as an HPD-approved Marketing Agent for large affordable housing projects in New York City.
• Handles initial leasing and tenant selection, a key item on developers' checklists.
• Works with some of the largest affordable housing developments in NYC.

Marketing monitor services

• Provides ongoing monitoring and re-rental support for income-restricted apartments subject to continuing compliance requirements.
• Partners with developers of all sizes for efficient re-rental and reporting.

Rent stabilization compliance

• Assists investors and developers with rent-stabilized unit regulations and restrictions.
• Addresses stabilized unit challenges early, with support that includes coordination with third-party legal assistance.

LIHTC compliance

• Handles income and asset certifications for LIHTC and similar Tax Code compliance engagements.
• Uses purpose-built software to support compliance with HDC, HPD and IRS requirements.

Impact and scale (as stated on the website)

• 3,000+ affordable units rented.
• 9M SF of real estate serviced.
• 30–165% AMI represented.
• 3,000+ qualified middle-income leads generated.
• 25–30 leases per week signed.

Client portal

• MGNY offers a client portal where affordable-housing clients can monitor the progress of tenant selection and leasing 24/7.

Typical clients

• NYC affordable and middle-income housing developers.
• Owners of income-restricted units subject to HPD, HDC or LIHTC rules.
• Large-scale NYC residential projects needing a marketing agent or monitor.

MGNY Consulting provides advisory and filing services for New York City's non-primary residence surcharge, sometimes referred to as the pieds-à-terre tax or PAT tax.

What the non-primary residence surcharge is (as described on the website)

• The NYC Department of Finance notice titled "Non-primary residence property surcharge: Respond by August 21, 2026" indicates that the City's records show no qualifying primary resident for a property.
• The notice sets out the property's fiscal year 2027 market value and the surcharge due unless an exemption is granted.
• The surcharge is described as:
• 4.00%, 5.25% or 6.50% of the entire market value for condos and co-ops starting at $1 million.
• 0.80% to 1.30% of the entire market value for one- to three-family homes starting at $5 million.
• Homes, condos and cooperative units all respond by October 6, 2026; the deadline has been extended from the August dates printed on the notices.

The surcharge applies to the entire market value once a tier threshold is crossed.

Exemptions (as outlined on the website)

An exemption may apply when the property is the primary residence of one of the following:

• The owner.
• A tenant or subtenant (who must be a natural person).
• One or more individuals who collectively hold a majority interest in the entity (LLC, corporation or partnership) that owns the property.
• An immediate family member of the owner or majority interest holder.
• The sole beneficiary of a trust that owns the property.

Key nuances mentioned on the site include:

• Primary residence is measured as of January 5, 2026.
• Multi-tier entity structures cannot qualify for certain exemptions.
• Intended future occupancy does not count.
• MGNY's analysis notes that many affected condo units above the threshold are owned through LLCs, trusts and similar entities, where documentation can be complex.

How MGNY helps with the surcharge

According to the website, MGNY:

• Reviews the Department of Finance notice, the ownership structure and the underlying property record.
• Determines which exemption criteria may apply.
• Prepares the documentation required by the nyc.gov/npsurcharge portal.
• Advises whether the property's market value should be challenged through the Department of Finance or Tax Commission processes.
• Uses the same record-level work applied in annual RPIE filing and appeals to address discrepancies in square footage, usage and market value.

Tools and explainers referenced on the website

The website references the following MGNY resources related to the surcharge:

• A calculator at piedterretax.com that estimates the surcharge under current rate tiers.
• A lookup at pied-a-terre.mgnyconsulting.com showing where a property stands.
• An explanatory site at npsurcharge.com that walks through the notice and response.

(These resources are hosted by MGNY and are referenced on the main site; availability or exact functionality is not guaranteed by this agent.)

When to contact MGNY

• If you received a non-primary residence property surcharge notice from NYC.
• If you are unsure whether your property qualifies for an exemption.
• If you believe the market value printed on your notice may be overstated.

MGNY's site directs property owners to call +1 (212) 343-1111 to review the notice and determine next steps.

MGNY Consulting provides property tax management services for New York City real estate owners and developers.

What property tax management covers

According to the website, MGNY's property tax management services are designed to:

• Provide property tax help and ongoing management services.
• Increase efficiency around compliance, appeals, exemptions and reporting.
• Break down complex regulatory and filing requirements into simple, manageable processes.
• Address new NYC requirements such as the non-primary residence surcharge (also referred to as the pieds-à-terre tax).

Examples of tax-related service areas mentioned on the site

MGNY's property tax work includes, among other things:

• Annual tax appeals and representation before NYC tax authorities.
• RPIE filing (Real Property Income and Expense statements) and related support.
• RPIE penalty removal where penalties were assessed incorrectly.
• Assistance with NYC tax programs and applications, including items such as 485-x, 421a, ICAP, exemption renewals, NFP exemption applications, and coop/condo abatements (as listed in the site navigation for property tax services).
• Tax opinions and projections related to NYC property taxes.

(Details for specific services such as the non-primary residence surcharge and RPIE filing are covered in separate documents.)

Scale and experience

As stated on the website:

• MGNY has represented $17B+ in appeals.
• The firm handles 2,500+ annual RPIE filings.
• MGNY has secured 900+ developments with tax abatements and $23.6M in tax refunds.

Typical clients

• Owners of NYC income-producing properties.
• Real estate developers and investment groups.
• Management companies overseeing multi-building portfolios.

How MGNY works with clients

• Uses custom-built client-management and property tax software.
• Offers a client portal to give owners and developers real-time access to property tax information and case status.
• Focuses on data-driven, technology-enabled processes to improve accuracy and efficiency.

• +1 (212) 343-1111
• +1 (718) 522-1111

The site notes that a real person answers and that all consultations are free; you only engage MGNY if you want them to handle the work.

Office address

As listed on the website:

• 109 East 9 Street
• Ground Floor
• New York, NY 10003

(There is also historical information on the site about prior Brooklyn and Manhattan locations; the address above is the current office address shown on the contact page.)

Online contact

• The website provides a Get In Touch / contact form for inquiries.
• The contact page invites visitors to fill out the form and states that MGNY will get back shortly.

Specific email addresses are not listed in plain text on the pages read; customers are directed to use the contact form or phone numbers.

Service area

Based on the website, MGNY works with:

• Real estate owners and developers throughout New York City.
• Owners of income-producing properties and income-restricted housing in NYC.

Hours and response times

The website does not publish specific office hours. For current availability or to schedule a consultation, customers should:

• Call one of the listed phone numbers, or
• Submit the contact form on the MGNY website.

Lists Brooklyn and New York City as a location. Names New York and New York City as a service area. Areas beyond these are not published.

• Owners of most income-producing properties with an actual assessed value over $40,000 must file an annual RPIE statement with the NYC Department of Finance.
• Owners of properties that meet certain criteria may need to file a claim of exclusion instead of a full RPIE; the exclusion is not automatic and must be claimed.

RPIE deadlines

• The RPIE statement reports the property's income and expenses for the prior year.
• The filing deadline is June 1 each year.
• The website notes that the RPIE-2025 deadline was June 1, 2026, and that the next cycle (RPIE-2026) follows the same annual schedule.
• The Department of Finance may allow late filings on a discretionary basis, and MGNY prepares and submits late RPIE statements.

Penalties for not filing, and MGNY's role

The website explains that penalties for non-filing or late filing can be significant:

• Monetary fines are billed as flat amounts starting at $300 and going up to $100,000, depending on the final assessed value.
• Owners who fail to file for three consecutive years may face an additional penalty of 5% of the final actual assessed value.
• Owners who are required to file a claim of exclusion but do not submit one face fines that increase over multiple years (e.g., $100, then $500, then $1,000).

Other consequences of non-filing or late filing described on the site include:

• Losing the ability to contest the assessment at the Tax Commission in the following tax year.
• The Department of Finance imputing value based on comparable properties when no RPIE data is received, which can disadvantage non-filers.

MGNY's role, as stated on the website:

• Prepares and files RPIE statements, including late filings where permitted.
• Contests RPIE penalties that were assessed incorrectly.

What the RPIE filing covers

• Income and expenses for the reporting year, which Finance uses to value the property for the following tax year.
• Properties with an actual assessed value of $750,000 or more must file an addendum with rent roll information.
• Separate but related filings mentioned on the site include:
• The storefront registry for buildings with certain commercial space.
• The REUC-RPIE for utility-related property and equipment.

How MGNY handles the RPIE process

According to the website, MGNY:

• Has experience working with both large management companies and individual owners.
• Manages the full RPIE process through the Department of Finance's SmartFile system.
• Uses its broader expertise in NYC property tax to reduce the risk of over-assessment.
• Also handles non-primary residence surcharge responses for owners who receive that notice.

When to contact MGNY

• If you need help preparing or submitting an RPIE filing.
• If you missed the RPIE deadline and want to explore late filing.
• If you received an RPIE-related penalty notice and want it reviewed.

The website directs owners to call +1 (212) 343-1111 to review notices and discuss options.

Ask anyway — the agent will say plainly that it is not published rather than guess.