The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
A large swath of high-end condo market activity of the past five years are non-primary residences which include pieds-a-terres but most are investor purchases that are subsequently rented after the unit closes when construction was completed. New Yorkers are the new foreign buyer there. They eat, sleep, work, and consume.
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