Posted by Leonard Steinberg of URBAN COMPASS on February 8th, 2015

The New York Times has written a feature story on how shell companies front some dubious buyers of super-luxury New York apartments. The article is very detailed and thorough, yet there are a few things that amaze me: 1) What about all the US owners of New York real estate with dubious pasts and a history of jail-time? Why only focus on the foreigners?   2) Why the excessive focus on this tiny fraction of the market that seems to gravitate to small handful of buildings?    3) Why should people who don’t use their property all year round pay more taxes? Should our mayor pay more taxes for the Park Slope townhouse he doesn’t use?