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New York’s $1.7 Billion Developer Tax Break Set to Expire, 10 Reasons New York City’s Rental Market Has Gone Haywire, Compass + Welcome Homes

Martin Eiden | June 4, 2022

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New and Noteworthy

New York’s $1.7 Billion Developer Tax Break Set to Expire

Lawmakers in the state capital are poised to allow a lucrative $1.7 billion New York City property tax break to sunset, leaving developers in limbo on rental housing projects and skirting one of the few legislative efforts to reform the city’s arcane property tax system.

(Full Story)

10 Reasons New York City’s Rental Market Has Gone Haywire

If more than 300,000 people left New York City between 2020 and 2021, as the U.S. Census Bureau announced in March, then why is it so damn hard to find an apartment right now? Those somber census estimates, which showed a population decline of 6.9 percent in Manhattan. (Full Story)

Compass + Welcome Homes

Welcome Homes, the world's first tech-powered new home builder is launching its Preferred Agent Program with Fortune 500 company and the largest independent residential real estate brokerage in the United States, Compass, Inc. The relationship between Compass and Welcome Homes will allow Compass agents to offer Welcome Home's services to their customers.

(Full Story)

Team News

Market Updates

In case you missed them, here are the two latest updates on the market - one for buyers and one for sellers:

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Buyers Market Update (pt 2)

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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New York’s $1.7 Billion Developer Tax Break Set to Expire, 10 Reasons New York City’s Rental Market Has Gone Haywire, Compass + Welcome Homes

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FARE Act, Late-Week Retreat, Where’s The Inflation From Tariffs? Just Wait, Economists Say.

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New York’s $1.7 Billion Developer Tax Break Set to Expire, 10 Reasons New York City’s Rental Market Has Gone Haywire, Compass + Welcome Homes

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Featured Blogs

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4th of July in NYC: Where to Watch the Fireworks and Best Events to Attend, Upward Movement Despite Volatili…

US Economy Contracted Sharply To Start 2025 - Worse Than Previously Thought, Record Territory, Inflation Exp…

FARE Act, Late-Week Retreat, Where’s The Inflation From Tariffs? Just Wait, Economists Say.

DUMBO, Brooklyn: A Neighborhood That Blends Art, Tech, and Iconic Views

One Full Point, Slow and Steady, See The New $16.7M Pedestrian Oasis Next To Grand Central Terminal

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