After Rush to Beat New Tax, Manhattan Luxury-Apartment Sales Slump – Wall Street Journal

A lesson for Chicago as it considers a hike in transfer taxes on high end properties, to which Mayor Lightfoot is committed: New York hiked its transfer tax on sales over $2 million on July 1. July sales of Manhattan homes and apartments for $2 million or more shrank to the lowest level for any month in more than six years. It was the slowest pace for such sales in the month of July since 2009.
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nixit
4 years ago

Coastal markets are running out of Chinese and Russian billionaires wanting to hide, er, invest, money in high-end American real estate.

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