NY Dirt: Owners have a lot of pied-à-terre questions
Mayor Zohran Mamdani’s pied-à-terre tax already has homeowners, lawyers and realtors pleading for greater clarity and transparency. The Department of Finance held a public comment hearing Thursday, and many parties shared their thoughts and concerns — here are just a few. The new surcharge on second homes amounts to a “confiscatory and half-baked money grab,” said Peter Blond, a partner at Brandt, Steinberg, Lewis & Blond LLP. “When there is a significant renovation, let’s say a $20 million penthouse renovation, DOF practice in a cooperative setting has no choice when they wish to assess a physical alteration, as they must […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Buying a Home? Here's What You Should Know About Home
Insurance Costs.
Home Price Growth Slowed Down. That May Be Changing.
Selling a Luxury House? Here’s Why Now Is a Good
Time
Can Cost Segregation Studies Help If I Bought the Property
Years Ago?
How to Analyze a Rental Property Step-by-Step (15 Years of
Experience)
Health care mogul Daryl Hagler to buy Camp Mesorah from
bankruptcy
NY Dirt: How Mamdani rode high rents into
office
NYC’s top deals: Delshah drops $37M on apartment portfolio
in Manhattan Valley
Eurostars buys Chemists Club Hotel in Midtown for
$95M
Crypto miner’s AI pivot encounters NY data center
freeze
