The problem is at some point in the [probably not too distant] future this pied-à-terre tax starting at $5M is going to look exactly the $1M mansion tax. Years ago when the mansion tax was installed, you could buy a mansion for one million dollars - really!

 

Here is a list of the taxation plan, part in effect already and the rest being pushed through:

 

Pied-a-terre Tax:

$5M: 0.5% fee

$6M-$25M: subject to a fee and tax, increasing as the value increases

$25M and above: subject to a $370K fee and 4% tax

Potential Revenue: ~$9B

 

Congestion Pricing:

$2.50 on top of $5.50 base fare for yellow cabs

$2.75 for private for-hires like Uber & Lyft

Potential Revenue: ~$15B

 

Internet Sales Tax:

For any purchase made online by a NYS resident

NYC: 4.5%

Upstate NY: 4%

Potential Revenue: ~$5B

 

Cannabis Tax:

State sales tax: 20% of the sale from wholesaler to retail dispensary

Local sales tax: 2% of the sale from wholesaler to retail dispensary

Potential Revenue: ~$2B

 

It seems as if the MTA is THE reason to tax everything in NYC. I think we might need a tea party of sorts! Tax this. Tax that. Tax everything! Are they kidding? Pretty soon NYC and NYS are going to tax our pets!

“The neighborhood is expected to generate new jobs and opportunities for New Yorkers with 100 shops, dozens more restaurants, 14 acres of gardens and parks, and even a performing arts center, called “The Shed,” which has a retractable roof. There’s also the “Vessel,” a 150-foot structure the public can visit and climb.”

 

Read the full article HERE on CBS.

“Forbes reported that New York City remains the most popular address in the world among billionaires.

 

New York is home to 84 billionaires with a collective net worth of $469.7 billion, which is more than the annual economic output of Austria. The Big Apple’s wealthiest resident is media magnate and former mayor Michael Bloomberg, with a net worth of $55.5 billion, Forbes reported.”

 

Here are the top 10 cities and their billionaire population counts:

10. Mumbai, ~37 billionaires

9. Seoul, ~38 billionaires

8. Shenzhen, ~39 billionaires

7. San Francisco, ~42 billionaires

6. Shanghai, ~45 billionaires

5. London, ~55 billionaires

4. Beijing, ~61 billionaires

3. Moscow, ~71 billionaires

2. Hong Kong, ~79 billionaires

1. New York City, ~84 billionaires

 

Mubadala, an investment company from Abu Dhabi, purchased a 90% stake in the building for $800M in 2008. That’s a $650M discount! There is speculation that the landmark may be turned into a hotel as a part of a mixed-use conversion. The Chrysler Building has fallen victim to the more desirous market for modern & luxurious offices. As long as they leave The Chrysler standing in its beauty...

                                                                                                           

 

Celebrate the anticipation of the flowerful season at

 

The NY Botanical Garden’s Orchid Show

through April 27th

This year’s inspiration is the country of Singapore where the national flower is the Orchid.

For tickets and further information follow the link to the NYBG’s website HERE.

or 

Macy’s Flower Show

March 24th - April 7th

The entire department store located at Herald Square morphs into a garden of flowers.