
Episode #143
Title: Episode 141, Phase 1 NYC Pied A Terre Tax for Condos
Today we're discussing NYC's newly implemented pied-à-terre tax on condominiums only. We discussed co-ops last week, so they are the second-most-common inventory for NYC real estate buyers & owners. The tax affects about 17,500 co-ops and condos that clear the city’s $1 million official-value line. Only about one-third to one-half of those are real second homes after you pull out people who actually live there. Call it maybe 6,000 to 8,500 apartments. A tiny slice of the city, but important information to know for buyers & owners of NYC. Thank you, as always, for listening, and we will be sure to send more updates as they come!




