No profit, no project: Reynoso tries to demystify development
A basic fact not well understood by the public and politicians is that developers must raise money for their projects — and cannot if the expected return doesn’t compensate for investors’ risk. In other words: No profit, no project. One elected official who gets it is Brooklyn Borough President Anto
“It’s going to hurt”: NYC resi players push back on proposed cash sales tax
Cash is king in New York City residential real estate, and could spell the next frontier for state lawmakers looking to levy new taxes. News circulated on Thursday that New York legislators have been considering a tax on homes in the five boroughs bought for $1 million or more without financing, a
NY Dirt: Latest pied-à-terre update like “a night at improv”
There’s been a lingering open question of how the city will implement a pied-à-terre tax. After Gov. Kathy Hochul’s latest proposal to legislators, it seems the question will remain open for two more years. The governor put forward a “two-step” plan, as reported by the New York Times. The first ste
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