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Photo illustration of Sen. Brad Hoylman, who championed the pied-à-terre tax. (Getty)

Pied-à-terre tax revenue estimate slashed by 41%

A tax on luxury second homes in New York City would yield far less revenue than expected, an agency...

Pied-à-terre tax revenue estimate slashed by 41%
Sen. Charles Schumers aid President-elect Joe Biden agreed to assist NYC. (Getty)

NYC loses $2.5B in property taxes, gets $1B from FEMA

Property tax revenue did not plunge with the city’s economy last year because assessments preceded the pandemic. This year,...

NYC loses $2.5B in property taxes, gets $1B from FEMA
Gov. Andrew Cuomo announced that a major development surrounding Penn Station. (Getty)

Cuomo adds housing to $51B Midtown West project

The state’s massive development plans for the area surrounding Penn Station now includes affordable housing. Gov. Andrew Cuomo announced...

Cuomo adds housing to $51B Midtown West project
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

Ray McGuire’s path from “the streets to the suites” is made-for-movie stuff. Growing up poor and fatherless in Dayton, Ohio, he worked his way into the elite boarding school Hotchkiss, then Harvard for undergraduate,...

The Closing: Ray McGuire
Sen. Jabari Brisport (Photo via Jabari for State Senate; iStock)

Socialist notches key NY Senate appointment

The Democratic Socialists of America just got another seat at the table where New York state housing laws are decided. Sen. Jabari Brisport, a newly elected Democrat from Crown Heights, was named to the...

Socialist notches key NY Senate appointment
Airbnb Brain Chesky and President-elect Joe Biden (Getty)
National

Airbnb cancels all DC-area bookings for inauguration week

 Airbnb is taking the unprecedented step of canceling all reservations in the Washington, D.C., area during the week of...

Airbnb cancels all DC-area bookings for inauguration week

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