What is your opinion about how the NY Legislature and how the progressive initiatives will impact real estate
The Pied-a-terre tax is essentially dead. (While the news mainly said real estate moguls and their lobbyists did the work walking the halls of Albany, I would like to think my thoughts in the Bloomberg article helped a little. :) ) The proposed increased and graduated transfer and mansion taxes seem more egalitarian and not anti-foreign or anti-second-home-owner. This is will help New York City remain pro-business and retain its standing as the "capital of the world" especially with the imminent collapse of London.
Congestion pricing has been in the works for a long time and is popularly supported because it will help with the subway system and ease traffic. The tax is overall small and placed on everyone so no singling out a specific demographic. A better subway system will help all real estate in New York City but mainly Brooklyn, Queens, and the Bronx.
