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Paying more mansion tax, steep drop for sales of new development in NYC, & more

By Jennifer White Karp | April 5, 2019 - 2:00PM 

This week, many of our readers were relieved to find out that the newly passed New York state budget did not include a proposed annual pied-à-terre tax. It does however, include a revamped version of the "mansion tax." This one-time tax has been scaled for the first time ever, so once you go over $1 million, the bigger the price tag, the more you pay. Readers were also interested in a first quarter market report from Douglas Elliman that saw a steep drop in sales of new development.

Here, in full, are the week's top stories.

1. New York state budget raises the mansion and state transfer tax to fix the MTA

2. Report: New development drags down prices in a 'polarized' Manhattan real estate market

3. No temporary walls allowed: Using curtain room dividers in your NYC apartment

4. How I once turned an illegal Brooklyn roof deck into my garden oasis

5. Why a newly built NYC apartment with a separate dining room is hard to find

Jennifer White Karp

Managing Editor

Jennifer White Karp steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in NYC real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC. She holds a B.A. from Wesleyan University and an MFA in nonfiction writing from the New School.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.
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