Find Real Estate Agents and Homes for Sale


Real Estate News --> New York News

New York’s high-end real estate may be unaffected by tax law


New York sales transactions priced more than $5 million are primarily settled in cash, which will make the upcoming cap on mortgage interest deduction in the United States' new tax law almost irrelevant to luxury real estate.


Archived Story

Real estateNew York’s high-end real estate may be unaffected by tax law January 4, 2018 Douglas Elliman listing in New YorkImage credit: Douglas Elliman   By Brielle JaekelNew York sales transactions priced more than $5 million are primarily settled in cash, which will make the upcoming cap on mortgage interest deduction in the United States' new tax law almost irrelevant to luxury real estateTo read the entire article, please subscribe or sign in{"ct":"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","iv":"425d1cbe2cecbe59914adffbf968fd73","s":"f95411846514480e"} Email this Print Reprints Download PDF Share your thoughtsClick here   #submit{display:none} « Previous articleNext article »  LATEST HEADLINESDay’s wrap: Seabourn, Neiman Marcus, Madison Avenue, Vogue, Gemfields and @Diet_PradaStefano Gabbana fires back at “cyberbully” @Diet_PradaGemfields tells emerald’s story via undetectable transparency inscriptionVogue drinks to readers’ health with subscription offerMadison Avenue sees new openings, reinvestment in H2 2017Karen Katz to retire from Neiman MarcusSeabourn ships out innovation, wellness for milestone yearHollywood’s red-carpet blackout gives labels opportunity to show solidarityHow should retail plan for extreme weather this season?Snapchat’s unskippable ads, off-app content bid to lure advertisers from Instagram MOST POPULARHollywood’s red-carpet blackout gives labels opportunity to show solidarityDolce & Gabbana risks alienating older customers to draw in millennialsMobile search ads dominate digital channels: ForresterHow should retail plan for extreme weather this season?Video marketing: Luxury Memo special reportTop 5 luxury trends to watch in 2018Day's wrap: Mercedes, Elie Saab, Billionaires' Row, SH Group, Town & Country and KenzoDay's wrap: Seabourn, Neiman Marcus, Madison Avenue, Vogue, Gemfields and @Diet_PradaPerfuming fundamentals must be reinstated to combat creative stallWhat to expect in mobile advertising and location data VIDEOS Seabourn ships out innovation, wellness for milestone year Video marketing: Luxury Memo special report Video marketing: Luxury Memo special report Video marketing: Luxury Memo special report Video marketing: Luxury Memo special report Video marketing: Luxury Memo special report Video marketing: Luxury Memo special report Mercedes touts strong genes as new G-Class unveiling nears Valentino updates archival imagery for spring campaign Dior casts model crew to show lip balm loveMore Videos MORE IN Real estate Latest Billionaires’ Row project to be world’s tallest residential tower New York’s high-end real estate may be unaffected by tax law Redfin CEO warns against future mass exodus from coastal cities Economic, political uncertainty led to “wait and see” real estate strategy in Britain Luxury Daily’s 2017 year in review: Top headlines across sectors Chinese segment to support newly constructed homes in US Back to top RECENT ARTICLES Day’s wrap: Seabourn, Neiman Marcus, Madison Avenue, Vogue, Gemfields and @Diet_Prada Stefano Gabbana fires back at “cyberbully” @Diet_Prada Gemfields tells emerald’s story via undetectable transparency inscription Madison Avenue sees new openings, reinvestment in H2 2017 Karen Katz to retire from Neiman Marcus Seabourn ships out innovation, wellness for milestone year Back to top FOLLOW US:        SUBSCRIBE TO FREE NEWSLETTERS:   CUSTOMER SERVICE:  help@luxurydaily.com Home Industry Sectors Channels Opinion Resources Advertise Special Reports Events Services About Us Subscribe Log In Log OutNEWS TIPS:  news@napean.com  ADVERTISING:  ads@napean.comSEARCH:   Privacy Policy

Trending New York News:


  • Brothers disappointed in HGTV ouster
  • Lawyer on the lam Douglas Arntsen lands back in New York court on $7 million embezzlement charges 
  • New York real estate company enters Atlanta market
  • Huntington, NY Real Estate: Foreclosures
  • Why Hasn’t the Internet Disrupted Real Estate?
  • Kramer Levin's Real Estate Practice Selected as One of Law360's Top Real Estate Practice Groups of 2012
  • CPA(R):18 - Global Commences $1 Billion Offering
  • Richard Hadar Funding Continues Fast-Paced Growth in New York City Real Estate Market
  • As Election Cloud Lifts, Real-Estate Brokers See Brighter Times
  • N.Y. firm set to buy Gaviidae I for $26.5M
  • All of the Lies in This New York Times Story About Nepotism
  • StreetEasy Joins Premier Agent
  • Beacon, NY Homes For Sale & Real Estate
  • Prime Lex Ave Retail Hits the Sales Block
  • Manhattan’s West Side Attracting Wealthy Condominium Buyers, De Niro Says
  • Sahara India Pariwar buys NY's Plaza Hotel
  • NYC Affordable Housing, Metro-Suburban Development and Emergence of New Investors: Join Tri-State Multifamily Industry ...
  • Disruption Comes (Finally!) to Commercial Real Estate
  • Report: Trump Interested in Buying New York Times
  • NYPD: Croatian historian killed in park by Croatian author