Billionaires Get 'Low-Income' Tax Breaks in Condo Tower

The billionaires paying more than $90 million for top apartments at the new One57 tower in New York have some very special amenities. They get more than 10,000 square feet, 75 floors above Manhattan. They get VIP concierge and doorman services, along with some of the best views in the city.

But they may also get a less publicized benefit: tax breaks of more than $150,000 a year from a program aimed at low-income housing.

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Media reports say that two of the buyers for some of the top floor units include Silas Chou, the billionaire who took Michael Kors public, and Lawrence Stroll, a Canadian billionaire.

http://finance.yahoo.com/news/billionaires-low-income-tax-breaks-194500791.html