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Manhattan luxury real estate sales remain strong one month after new pied-à-terre tax

By

Robert Frank

1d ago· 6 min readenNews

Summary

A month after New York City passed a pied-à-terre tax on second homes (May 27), luxury real estate sales remain strong and inventory is falling, contrary to broker predictions of an immediate negative impact. The article examines the resilience of Manhattan's luxury housing market despite the new tax, exploring why wealthy buyers continue purchasing and how the market is adapting.

Source

bskyManhattan luxury real estate sales remain strong one month after new pied-à-terre taxcnbc.com

Key quotes

· 1 pulled
Brokers said the New York wealthy would f
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A month after the passage of a tax on second homes in New York City, brokers and analysts said sales of luxury real estate remain strong.

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