July 1st the New York State Department of Taxation and Finance will be imposing an increase in the state real estate transfer tax and mansion tax in New York City! The NYS transfer tax increase will affect residential property sales above $3MM and all other property types sales above $2MM. the increase will be $2.50 per […]
While the adjustment in luxury real estate prices can of course be up or down, this time around they are down having a negative impact on sellers! Buyers are now in the drivers seat dictating more of the terms of real estate transactions! Prices are not down in every U.S. city, but they are in New York City where […]
A report compiled by Olshan Realty provides a complete rundown of the 2016 results in the NYC/Manhattan residential real estate market for sales above $4 million! 2016 ‘saw an 18% decline in contracts over 2015. Year to date, 1102 properties had contracts signed totaling $8,937,866,862. The numbers are higher than 2012, but below the golden years […]
