Investing

New US Rule on Cash Investments Could Hurt Property Sales in Miami and Manhattan

The new disclosure rule requires title insurers to identify people behind anonymous deals. The decision by the U. S. government to start examining all-cash buyers has added another problem to luxury-home developers and brokers in Miami and Manhattan who are already challenged with sinking prices and slackening demand.

A Special Tax for Property Owners Who Don't Pay Income Taxes in the Area Where Property is Located

A special tax surcharge is proposed for property owners who don't pay income taxes in the area The province might be giving the proposed "Special" real estate tax aimed at owners of properties they don't live in.

UPDATE: Andy Warhol's Estate Sold, Only a Portion but for $50 Million

A portion of Andy Warhol's estate has finally been sold to the personage of a certain Adam Lindeman. He purchased not the whole 20-acre, but just a portion of it. An area wide of 5.7 acre for the price of $50 million. According to Elle Décor, his purchase includes the main house and some of the estates cottages.