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Appeals court reboots NYC pied-à-terre tax rollout after pause

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New York City’s ultra-rich started the week with a reprieve from having to prove residency to avoid a pied-à-terre tax. But as the week ends, the reprieve itself proved fleeting. A state appeals judge yanked back the roadblock on Mayor Zohran Mamdani’s tax plan Thursday afternoon in a Staten Island court. Brought by three homeowners, […]

Squeezed NYC affordable housing properties face reckoning

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New York City’s regulated affordable housing sector is confronting a worsening financial squeeze, and a reckoning is coming unless solutions emerge, according to a new survey of owners, managers, lenders and other industry participants. The survey by affordable housing nonprofit NYC Housing Partnership found that 62% of respondents said operating costs have risen to unsustainable […]

NYC buildings agency inspects 180 sites, no imminent hazards

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Last month’s structural near-disaster at the former Pfizer headquarters being converted to apartments set off a sweeping inspection of construction sites across New York City. Inspectors checked at 180 sites in all, according to the Department of Buildings. Inspectors found violations, but “we did not find any hazardous structural issues posing an imminent danger to […]

New York City posts notice of new tax levy to pied-a-terre owners

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Tax attorneys and accountants are about to make bank helping owners of non-primary homes navigate New York City’s pied-à-terre tax notifications, which started landing in mailboxes before the weekend. “If you have a second home in New York City worth more than $5 (million), check your mailbox when you’re back in the five boroughs – […]

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