Real Estate Daily Report

New mansion tax takes effect in New York on July 1

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After 6 quarters of decline, two giant NYC real estate deals are sparking hope of a rebound in luxury Manhattan real estate. But a closer look shows the new mansion tax may be behind the boost.

 

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One would think the savings on tax would be gobbled up by the seller in thinking I want some of that. If rates go up some times prices relax a bit.

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