Preferred equity investors in New York real estate would pay a new tax and the public could see who is backing some high-end projects under a state bill. State Sen. Julia Salazar and Assembly member Harvey Epstein unveiled a bill in January to tax mezzanine debt just as mortgage loans are taxed when recorded with the state. This month Epstein added preferred equity to the measure. Many commercial real estate projects in New York use
source https://therealdeal.com/2020/08/20/new-york-preferred-equity-investors-face-tax-hike/
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