Press Mention
Tax bills show how much Covid devalued NYC real estate
The Real Deal
June 11, 2021
The pandemic hit the commercial real estate market hard. Property tax bills now reveal just how hard.
New York City expects property tax revenue to drop by $1.6 billion, or 5 percent, in the coming fiscal year, Bloomberg News reported. That’s the biggest drop in the city’s largest source of revenue since the early 1990s.