What the pied-à-terre tax means for brokers advising NYC buyers
A real estate attorney says the pied-à-terre tax has structural complications for co-ops and condos that brokers need to understand

A real estate attorney says the pied-à-terre tax has structural complications for co-ops and condos that brokers need to understand

Firefighters conduct works to extinguish wildfires in Agia Paraskevi, West Attica, Greece on August 1, 2026. Anadolu | Anadolu | Getty Images As wildfires, heatwaves, and extreme weather are becoming a permanent feature of European summers, insurers warn that the region faces a growing “protection gap” as disaster recovery costs outpace insurance coverage. A gigantic…
A four-story office and retail building across the street from the former Macy’s department store in Downtown Brooklyn has traded, Commercial Observer has learned. Midwood Investment & Development, a New York City-based real estate development and management firm, purchased 423 Fulton Street — opposite the former Macy’s at 422 Fulton Street — for $9.5 million,…
Olmstead Properties has signed Luckin Coffee to a new 10-year, 1,200-square-foot retail lease at 180 Varick St., bringing one of the country’s fastest-growing coffee brands to the base of the historic Hudson Square office building. Luckin Coffee will replace a neighborhood pizzeria and deli that had occupied the storefront for more than 40 years before its longtime owner retired….
Key takeaway: Industry advocates believe the proposed rule changes are game-changers that could result in the formation of new mutuals, while also convincing some credit unions to consider switching charters. Forward look: The Federal Reserve is accepting comments on the proposed changes through Oct. 5. Expert quote: “This is smart regulation and largely well thought-out,”…
CIP Real Estate has paid $99 million for an industrial and office park in Broward County, Fla., property records show. Called Lyons Business Park, the property includes about 10 buildings, totaling 338,000 square feet It’s located at 6601 Lyons Road in Coconut Creek, Fla., near the corner with Johnson Road, about a mile west of…
As measured across all channels, Rocket Cos. regained the No. 1 spot among mortgage originators, with profits up strongly year-over-year in the second quarter. Processing Content In one of the toughest spring housing markets because of diminished affordability and rising rates, Rocket thrived, gaining market share in both purchase and refinance, Varun Krishna, CEO, said…