High-End Condo Buyers Just Took Another Hit (NY)

/ Owner - January 12, 2021

Pity the poor wealthy people trying to buy high-end condos in New York City today. The world just keeps piling on.  First came targeted federal moves, beginning in New York and Miami, to prevent all-cash condo buyers from hiding behind the veil of limited liability companies, also known as LLCs or shell companies – an attempt to stop the laundering of international money from illegal sources. Then came the 2017 federal tax overhaul, which limited to a peevish $10,000 the deduction on state and local taxes.    Read the article…………………………………

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