They got 99 problems — with a new tax program.

New York City developers have a hit a fresh snag in trying to solve the city’s housing crisis: A new tax program that costs them extra dough if they want to construct buildings with 100 apartments or more.

That new program, 485-x, which was meant to ensure workers got paid more per hour for large-scale multi-family developments, has had the opposite effect.

Bloomberg reports that New York City developers filed 21 applications for residential buildings with exactly 99 units in the third quarter — a notable rise from the 13 filed between 2008 and 2023, citing data from the Real Estate Board of New York.

The city’s housing crisis was a marquee issue that sent voters racing to the polls for the recent mayoral election, and this specific 99-

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