Published On: Tue, Jul 21st, 2015

New Rule: People No Longer Allowed to Buy NYC Condos Anonymously

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New rules from the de Blasio administration went into effect in May imposing disclosure requirements on shell companies involved in real estate transactions in New York City, the Times reports. The rules are a reaction to the semi-revelation from earlier this year that a lot of expensive condominiums were being purchased by shady characters, hiding behind LLCs, looking for places to hide their fortunes and skirt tax laws, and they require that the names of all members of a shell company involved in buying or selling property to be disclosed to the city… READ MORE

 

NY.CURBED by Jeremiah Budin

 

 

 

 

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