Thursday, December 26, 2013

Mayor Elect DeBlasio is about to institute some major changes and the real estate community is a target. If you or someone you know owns an empty lot in the boroughs, you may soon see your lot zoned "commercial" as opposed to residential. That means a huge increase in tax. You have 3 choices: 1) pay the tax (possibly 3 to 7 times what you are currently paying right now) 2) Build a structure on the lot capable of creating enough income to pay whatever tax is due, or 3) Sell the lot. I can't help you pay the tax, but I can help you find a builder and then tenants and I can help you find a buyer. In fact I am working with a number of them right now. Please pass on my # to anyone you know with a vacant lot in any of the boroughs. 347.878.KWNY(5969) http://www.crainsnewyork.com/article/20131124/REAL_ESTATE/311249973

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