IDA Transactions

IDA Transactions

  • IDA Transactions

Simplifying IDA Transactions on Long Island, NY

When you’re acquiring or developing commercial real estate, you may be eligible for economic development incentives and financial assistance from the local Industrial Development Agency (IDA). In essence, the property’s fee title or leasehold interest is transferred to the IDA and then transferred or leased back to the owner, thereby being legal entitled to deliver the benefits for the specific site. Those benefits may include real estate tax abatements (which would phase back in over a specified period of time), NYS sales tax abatements for a limited period to assist with the fit-up or construction component of your project, as applicable, and NYS Mortgage recording tax exemptions (with certain limitations). Each project is determined on its own merits, which we negotiate for on your behalf.


Presberg Law, P.C. is here to guide you through IDA transactions on Long Island, NY, and beyond. Our team has extensive experience working with the IDA's, so you can count on us to streamline the process and help you maximize your benefits. Contact our law firm today to schedule a consultation and learn more about how we can assist you with IDA transactions.

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Are You Eligible for IDA Assistance?

The local Industrial Development Agencies strives to support local business growth through tax incentive programs and other benefits. If your commercial property acquisition or development will contribute to business growth and job creation and retention, you should talk to our legal team about your eligibility. IDA benefits are discretionary, so we can help you argue your project’s importance as we have one since 1984.

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