Name: A new 1% tax could change NYC luxury deals forever
Uploaded: 2026-05-19T20:53:09Z
Description: New York’s war on luxury real estate taxes may be escalating. Weeks after talk of a pied-à-terre tax, lawmakers are now considering a 1% tax on all-cash home purchases over $1 million.

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New York’s war on luxury real estate taxes may be escalating. Weeks after talk of a pied-à-terre tax, lawmakers are now considering a 1% tax on all-cash home purchases over $1 million.

A new 1% tax could change NYC luxury deals forever

What happens when the algorithm meets 50 feral cats? Jonathan Miller, the veteran appraiser and market analyst behind Housing Notes, is bringing his Housing Notes column to TRD. He stopped by our NYC office to unpack one of his latest pieces: why the push to automate home valuations may be moving faster than the market — or its collateral — can safely handle.

What 50 feral cats reveal about the housing market’s AI problem

On this episode of Deconstruct, hosts Lilah Burke and Hannah Kramer break down how New York City’s latest budget, tax proposals, and one high-profile Upper East Side building are reshaping the city’s real estate market — from rent-stabilized apartments to ultra-luxury rentals.

How the last great development site in NYC left Upper East Side renters with nowhere to go

Real estate agents should be thinking about taxes all year long. That's why RLTY partners with Nimbl in its mission to give agents access to some of the same stability and benefits enjoyed by W-2 employees. As 1099s, the majority of agents are on their own for everything from taxes to healthcare to vendor referrals; RLTYco is working on changing that.

Agents level up their tax game with RLTY and Nimbl

A billion-dollar expansion of the Fort Worth Stockyards is on pause as a family succession battle erupts inside Majestic Realty.

The $1 billion Texas rodeo project torn apart by a family feud

How did a top executive at one of New York's most powerful landlords turn one of Times Square's biggest billboards into the backdrop for an $8.6 million fraud?

The Times Square scam that fooled a real estate giant

California’s insurance crisis may be reaching a breaking point. State Farm is facing accusations from California regulators over its handling of LA wildfire claims — including delayed investigations, underpayments and forcing homeowners to restart claims with new adjusters over and over again.

California accuses State Farm of cheating fire victims

"Most landlords are good actors." At our NYC #TRDForum, HPD Commissioner Dina Levy addressed whether City Hall is hostile to real estate, backlash to the "Rental Ripoff" hearings and HPD's plan to ramp up enforcement against repeat bad actors.

Is NYC anti-real estate? Mamdani's housing chief weighs in

Bally’s chairman Soo Kim argued gambling’s risks don’t disappear with prohibition — they just move underground.

NYC has gambling all wrong, says Bally's chairman

NYC's Housing and Preservation Department Commissioner Dina Levy came to The Real Deal's NYC Forum 2026 with a direct message from the Mamdani administration to landlords and developers: the city wants partnership.

HPD Commissioner Dina Levy to real estate: “We are not enemies” | The Real Deal's NYC Forum 2026

Private credit is reshaping real estate, but where does the money go next? Two of real estate's biggest lenders sounded off at The Real Deal's NYC Forum 2026.

Madison Realty Capital, TYKO Capital execs on private credit and writing big checks | NYC Forum 2026

Bally's Chairman Soo Kim came to The Real Deal's NYC Forum 2026 with a "simple answer" to the social costs of gaming: "Legalize it and tax the shit out of it."

“Legalize it and tax the [bleep] out of it”: Bally’s Soo Kim on gaming | NYC Forum 2026

Leaders from CBRE, Newmark and Vornado are "all in" on NYC's office market.

Vornado, CBRE, and Newmark execs talk pied-à-terre tax, the office boom, and more | NYC Forum 2026

Why are luxury buyers leaving Manhattan for Brooklyn and Queens?

Why Queens and Brooklyn are the new frontiers for luxury housing development | NYC Forum 2026

What’s really driving America’s housing crisis?

Richard LeFrak on Zohran Mamdani, NYC housing & why developers are “villains” | Coffee Talk

"That's what you call a wig snatch." New York real estate's most powerful CEOs just turned The Real Deal's NYC Forum into a live-fire debate over Compass, private listings and who really controls NYC's market.

Pam Liebman BETS $1M Corcoran won’t become Compass in brokerage showdown

Pam Liebman challenged Bess Freedman to a $1 million bet over the future of residential brokerages.

Corcoran's Pam Liebman and Brown Harris Stevens' Bess Freedman feud on transparency | NYC Forum 2026

At the second panel in The Real Deal’s NYC Forum, one of the mayor’s top housing officials acknowledged that the current Rent Guidelines Board process is flawed. 

Leila Bozorg and Kirk Goodrich on the RGB's blunt tool and YIMBY opportunities | NYC Forum 2026

Related Companies Chief Executive Officer Jeff Blau is steadfast on New York City. 

Related's Jeff Blau talks Hudson Yards Phase II, 485x, and more | The Real Deal's NYC Forum 2026

Protesters interrupted Related CEO Jeff Blau three times during his appearance at #TRDForum, turning a discussion about Hudson Yards’ next phase into a flashpoint over public subsidies, private development and New York politics.