The most expensive home ever sold in the U.S. is worth less than $10 million to New York City tax collectors
Feb. 27, 2019 9:03 a.m. ET
Billionaire Ken Griffin recently paid $238 million for a Manhattan condo, the most expensive home ever sold in the U.S. But according to New York City tax collectors, it is effectively worth only $9.4 million. The difference is the result of New York City’s complex property tax system, which requires that all co-op and condos be assessed as if they were rental buildings. That means assessors look at rental income at nearby buildings and make an estimate of a condo’s value.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire Steve Cohen Lists Art-Centric Triplex In New York For $33.5 MillionThe 9,600-square-foot unit in the West Village sprawls over its three levels with 30-foot ceilings in the entrance.
Read more »
Mixed-Use Real Estate And 'Buy Local' Boosting Restaurants Outside Los Angeles, New York CityThanks to 'buy local' and attractive mixed use lofts, cash-strapped independent restaurateurs can scale a national brand in cities besides L.A. and New York.
Read more »
New York Mayor Bill de Blasio will travel to Iowa on SundayNew York Mayor Bill de Blasio, who's considering a bid for the Democratic presidential nomination, will make a trip to Iowa on Sunday, an aide confirms.
Read more »