Posted by Leonard Steinberg of Urban Compass on January 16th, 2015 As New York City tax coffers swell to record-level surpluses, it was announced that real estate taxes are about to rise dramatically……of course with a characteristically un-American sense of un-equalness that has become the hallmark of our messed up New York real estate tax… [Read More]
REAL ESTATE TAX LAWSUIT: DEBLASIO’S PARK SLOPE PAYS LOWEST TAX
Posted by Leonard Steinberg on February 27th, 2014 In this morning’s Wall Street Journal, Josh Barbanel writes about a class-action lawsuit launched posing a constitutional challenge to New York City’s complicated property-tax system, a formula that has mystified skyscraper owners and renters for a generation. http://online.wsj.com/news/articles/SB10001424052702303801304579407651052464532?mod=WSJ_NY_MIDDLETopStories&mg=reno64-wsj It is charged that the system unfairly affects blacks and… [Read More]
FIVE BASIC THINGS ALL BUILDINGS MUST DO
Posted by Leonard Steinberg on April 21st, 2012 As a large swath of very beautifully designed buildings head our way in New York City, a result of the re-awakening of new development construction that was dormant for several years, I want all ‘older/existing’ co-op’s and condo’s to acknowledge that soon they could be viewed as… [Read More]
SUPPLY DISRUPTIONS
Posted by Leonard Steinberg on April 13, 2011 The world is learning the painful reliance we have on one another where because of Japan’s horrible disaster, many components manufactured there are slowing down the production of products made elsewhere around the globe. These supply disruptions affect pricing in a meaningful way. A similar supply disruption… [Read More]
NEW YORK: THE MOST CORRUPT REAL ESTATE TAX SYSTEM IN THE WORLD?
Posted by Leonard Steinberg on January 18, 2011 Co-op and condo owners are slated to pay much higher real estate taxes next year, under a preliminary assessment roll released on Friday by the Bloomberg administration. The city attributed the rises, due to take effect in July 2011, to higher market values placed on apartment buildings… [Read More]
ENCOURAGING SIGNS? IS LUXURY MANHATTAN REAL ESTATE ‘HOUSING’?
Today, reports came out on home groundbreaking. (Am I the only one annoyed at how figures are constantly ‘revised’?) So December’s figures were slightly inaccurate….why? And why the month-by-month-drama-queen reporting? I am a firm believer in watching pricing on a month by month basis, but it ceases to amaze me how many people formulate world-shattering conclusions from… [Read More]