The Proposed NYC "Pied-A-Terre Tax" Looks Catastrophic to NYC Real Estate
Miller Samuel
MARCH 19, 2019
At the opposite end of the spectrum, the fiscally conservative Citizens Budget Commission described the tax as appealing but problematic : Gov. FPI's apparent belief that most of the high-end development sold ended up as empty pied-a-terres while wealthy buyers bid up the prices is incorrect. They eat, sleep, work, and consume.
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