Experts say a proposed tax on mezzanine debt would raise the cost of financing across the board in New York — making housing, among other things, more expensive. State Sen. Julia Salazar and Assembly member Harvey Epstein proposed the tax this month in an effort to disincentivize real estate speculation, flag over-leveraged transactions and raise revenue for public housing. Their rationale was that “institutional investors and the extremely wealthy” finance risky multifamily investments with mezzanine
source https://therealdeal.com/2020/01/23/experts-take-issue-with-proposed-tax-on-mezzanine-loans/
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