Tag Archives: New York City luxury real estate market

What Impact Has GTO, FinCEN’s Anti-Money Laundering Geographic Targeting Orders, Had On The Luxury Residential Real Estate Market?

In 2016 the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) implemented its Geographic Targeting Orders, or GTO (January 2016 announcement here)! What was the purpose of this 2016 reporting rule that required title insurance companies in specific high-end residential real estate markets around the United States, to drill down and find who the […]

Some Luxury Real Estate Markets Are Experiencing Painful ‘Price Discovery’…

the excess in NYC real estate prices at 432 Park Avenue

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 […]