The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
The Fiscal Policy Institute proposed the tax in 2014 , and it has been floating around Albany ever since. The majority of new development units purchased as non-primary were rented out which is why the high-end rental market was crushed by all the new development condo sales by investors.
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