06/10/2026
Do you live here, or do you simply own here?
NYC's newly adopted Pied-à-Terre Tax has generated a lot of headlines, but also a lot of confusion.
If the proposal is intended to target luxury second homes worth $5 million or more, why are some discussions referencing condominiums with Department of Finance values beginning around $1 million?
In our latest market analysis, we break down what the tax is, who may be affected, how Phase 1 and Phase 2 work, and what it could mean for Manhattan's luxury housing market.
Read the full article below.
Learn how NYC's new pied-à-terre tax works, who it affects, what qualifies as a primary residence, how condos and co-ops are valued, and what the new luxury second-home tax could mean for Manhattan real estate buyers, sellers, and investors.
