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New legislation aimed at NYC real estate could hurt agents

03/15/2019

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NYC lawmakers want to pass initiatives that would negatively affect real estate agents — one bill aims to cap broker fees on rentals at 8 percent of the annual rate, which takes away the power of tenant-landlord negotiation, and another proposed initiative is a pied-à-terre tax, which would be levied on non-primary residences that cost $5 million and above.

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