New York’s New Pied-à-Terre Tax: What Buyers Need to Know

4 June 2026

New York’s New Pied-à-Terre Tax: What Buyers Need to Know For more than a decade, the so-called “Pied-à-Terre Tax” has repeatedly surfaced in New York political discussions. Long debated but never enacted, this tax targeting certain high-value secondary residences finally […]

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Valued at $22M, bought for $35M: How much is a distressed office worth?

20 September 2024

The ongoing saga of 16 East 40th Street, a modest, century-old office building in Midtown Manhattan, sheds light on the uncertainties surrounding the valuation of distressed office assets in today’s market. The building, co-owned by Albert Monasebian and Nader Hakakian, […]

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Brooklyn poised to outpace Manhattan in new development sales

13 September 2024

Brooklyn is gaining momentum in the new development market, with August showing a significant uptick in contracts, while Manhattan remains steady and the luxury market struggles, according to Marketproof’s monthly report. In August, 246 contracts were signed citywide, slightly up […]

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