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]
MANSION TAX MADNESS – NEW YORK MANSION TAXES TO RISE?
Posted by Leonard Steinberg of URBAN COMPASS on November 19th 2014 New York City imposes a 1% tax on apartments selling for $1 million or more. It is called a MANSION TAX. It is a disguised additional tax as we all know all to well that there is no such thing as a mansion in… [Read More]
HOT OFF THE PRESS: FIREPLACES, THE MIDDLE CLASS, TAXES
Posted by Leonard Steinberg on April 23rd, 2014 The news items of the day are not that great, or maybe they are? 1) Mayor De Blasio is planning to abolish wood-burning fireplaces in New York. While I love a crackling fire in a living room, quite frankly they do make some horrific pollution… [Read More]
MAYOR DE BLASIO’S NEXT 100 DAYS
Posted by Leonard Steinberg on April 13th, 2014 Many have asked my opinion of Mayor De Blasio’s first 100 days in office: I was lambasted by many for vocalizing my support of him……surely someone in real estate could not support this obviously liberal mayor for New York City? Well, I did. And I did so with good… [Read More]
THE BENEFICIARIES OF FEDERAL TAXES: NO, NOT NEW YORK!
Posted by Leonard Steinberg on April 13th, 2014 For every tax dollar New Yorkers give the Federal Government each year, they only get back 79 cents in Federal funding. You might conclude that the Federal Government is wasting our money somewhere, but oh no: just like most corrupt tax systems, this one has its beneficiaries…. [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]
DID ANYONE NOTICE….?
Posted by Leonard Steinberg on January 20th, 2014. Was I the only one who noticed two extraordinary ironies this past week? 1) Mayor de Blasio was completely silent as New York real estate taxes on condominiums were raised almost TWICE the amount of single family townhouses? A TALE OF TWO OWNERSHIPS? A $ 1,36million 644sf new condominium at… [Read More]
TALE OF TWO CITIES: CONDO TAXES RISE DOUBLE OF TOWNHOUSES!
Posted by Leonard Steinberg on January 16th, 2014 The new tax rolls came out and SHOCKINGLY the disparities are on clear display: you see, in New York City we are all unequal. Some get breaks and other have to pay for it. This is Mayor de Balsio’s TALE OF TWO CITIES, PART 2, the other… [Read More]
CONTINUUM TOWER FOR FLATIRON/MADISON PARK?
Posted on December 24th, 2013 On the heels of One Madison Park’s enormous success (Yoko Sanada on our team is currently selling a unit there), is more news about developer Ian Bruce Eichner’s planned neighbor, 41 East 22nd Street….possibly the first New York Continuum? Eichner had great success with the Continuum Towers in Miami that… [Read More]
HUGE REAL ESTATE TAX REVENUE INCREASES PAY NEW YORK'S BILLS
Posted by Leonard Steinberg on December 21st, 2013 As Mayor-elect BIll de Blasio and his fans decry the evils of the real estate market, I have to be certain that a recent Budget office report addressing the vast revenues generated by the real estate markets must be an eye-opener. Here are some interesting facts that… [Read More]