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Inside The Mansion Tax: Why Selling A House In New Jersey Just Got Way More Expensive Inside The Mansion Tax: Why Selling A House In New Jersey Just Got Way More Expensive
Inside The Mansion Tax: Why Selling A House In New Jersey Just Got Way More Expensive New Jersey’s luxury real estate market was thrown into turmoil after lawmakers passed a sweeping mansion tax bill on Monday, June 30, shifting the state’s high-end realty transfer fee from buyers to sellers and adding steep new tiers up to 3.5%. Under the new law, Assembly Bill 5804, sellers of homes over $1 million will absorb what had historically been a 1% buyer-paid fee, with significant increases for higher-value properties. The rates for sellers rises to: 2% over $2 million 2.5% over $2.5 million 3% over $3 million 3.5% over $3.5 million That means a seller of a $4 million home will …

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by Cecilia Levine
Real Estate
Mixed-Use Property To Be Built In Northern Westchester: Here's Where Mixed-Use Property To Be Built In Northern Westchester: Here's Where
Mixed-Use Property To Be Built In Northern Westchester: Here's Where A groundbreaking will soon be held for a new mixed-use property in Northern Westchester that will be composed of several businesses, including a new sports facility.  The groundbreaking event will be held on Tuesday, July 16 for a property located in Armonk at 100 Business Park Dr., according to its developer, South Florida-based-Basis Industrial.  The site, which Basis Industrial purchased in Spring 2023, will include an 82,400-square-foot Extra Space Storage; a 26,550-square-foot Sportime pickleball facility; and an 8,000-square-foot warehouse facility for Jan-Tile, which alread…

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by Ben Crnic
Real Estate
New York Times Tabs Tuckahoe A 'Growing Village' New York Times Tabs Tuckahoe A 'Growing Village'
New York Times Tabs Tuckahoe A 'Growing Village' TUCKAHOE, N.Y. -- The Village of Tuckahoe is getting its moment in the spotlight. The New York Times recently profiled Tuckahoe, highlighting its affordability and development. Tuckahoe is a mix of people who have lived there their whole lives and younger people attracted to its small town feel and proximity to the city, according to the Times. Marbledale Avenue, which was home to industrial sites, is getting a facelift with a 19-unit luxury condominium complex and a 153-room Marriot. Tuckahoe has about 700 single-family houses, 550 condo units in eight complexes; 300 co-op apartments in f…

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by Sam Barron