New York’s Pied-à-Terre Tax Has a Renovation Problem

New York City’s new pied-à-terre surcharge may create an unexpected problem for property owners undertaking major renovations.

In this C&G Insights article, partners Alexandra Wald and Nicholas Kaiser examine the law’s “renovation gap,” including why owners of properties that cannot legally be occupied during construction may nevertheless face the surcharge—and what owners, advisors, and real estate professionals should consider now.