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The wealthy keep buying Manhattan real estate despite potential pied-à-terre tax
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- High-end real estate sales in Manhattan increased in the past month, according to new data, despite New York Mayor Zohran Mamdani's proposed pied-à-terre tax that brokers warn could cause a wealth flight.
- There were 133 contracts signed for apartments priced at $4 million or more between April 14 and May 10, according to Olshan Realty.
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High-end real estate sales in Manhattan increased in the past month, according to new data, despite New York Mayor Zohran Mamdani's proposed pied-à-terre tax that brokers warn could cause a wealth flight.
There were 133 contracts signed for apartments priced at $4 million or more between April 14 and May 10, according to Olshan Realty. That compares with 130 during the same period last year. The total dollar volume increased by 10% to $1.12 billion, Olshan said.
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