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October 2016 Archives

Campaign blunders create real estate woes for Trump

Donald Trump's controversial campaign for the presidency has hurt his brand as a real estate mogul and businessman. It has impacted the New York real estate market, where he made his name. There's empirical evidence that the values of his condominiums and other products that bear his name and even that of his daughter Ivanka are in decline.

Do condo/co-op board votes have to be kept secret?

Condominium and co-op boards here in New York City have different rules around their voting processes. For some, all votes are secret. Some even use a double-envelope system. In others, there are no systems in place to keep the votes secret. That means that people on the board who collect the ballots aren't prevented from looking at them. They can conceivably retaliate against board members for their votes and even turn other residents against them.

New York leads in foreign commercial real estate investment

According to real estate broker Cushman & Wakefield, New York City has regained its spot as the most sought-after city for commercial real estate investment and development by foreign entities. New York dethroned London, which previously held the top spot.

Avoid costly tax mistakes during your real estate transactions

A seemingly-good New York real estate deal can have unexpected financial ramifications if you don't know which tax rules and codes apply to your transaction and which can be used to your benefit. Like all tax laws, the laws pertaining to the purchase and sale of residential and commercial real estate are constantly changing. That's why it's essential to have a team of legal, financial and tax professionals advising you so that you can take advantage of the tax laws that work in your favor and avoid costly mistakes and legal penalties.

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