Luxury Rental building Test the Manhattan Market — property tax

MIMA - Joey Arak

MIMA - Joey Arak

After the 421-a program expired in December last year. It will require approval from both the City Council and the state Legislature to renew. The new constriction can receive of 20-year property tax exemption in Manhattan has temporary vanished. The property tax in Manhattan is very high. Therefore it scare away numerous of 1st time buyers. They rather continue to rent instead owning which can built up their equity. Today more and more new beautiful rental building come into the Manhattan neighborhood. New here is a luxury one.
MIMA is the rental Luxury Rental Building which located Midtown Manhattan. Joey Arak said “MiMA is a throwback to pre-Lehman real estate decadence—with prices to match—and that has made the building’s debut one of 2011’s most anticipated moments. And heck, the inclusion of a Dog City probably doesn’t hurt the buzz. The rental portion of the building, 500 studio, one- and two-bedroom units on floors 7 through 50, is now open for business, and late last week we got a peek inside. Studios start at $2,895, one bedrooms start at $3,495, junior 4s start at $4,895 and two bedrooms begin at $5,995 a month. Mama MiMA! There will be an additional fee tacked on to enjoy all those amenities”. For more detail on Joey Arak’s article, please click the link below:
Reaching out to others in the real estate community and sharing ideas is the goal of this blog, so please do not hesitate to reach out to me. All comments are welcome. Also, please feel free to email me at anytime at

Other useful topical:
• What You Can Get For Your Money – The Neighborhoods of Manhattan
• 5 Tips for Purchasing Real Estate in Manhattan
• Manhattan Real Estate Glossary – Types of Rooms
• Renting vs. Owning
• Manhattan Real Estate – Now is the Best Time to Buy
• New York Homeowners: Sale your home at TOP Dollar
– Tips for Staged the home Appeal to the Buyer

• BUY Manhattan Apartment – perfect wedding gift
• New York, Manhattan Neighborhood – mistakes the 1st time buyers will make
• Manhattan Renters — Tips for Reinforce Credit Score to Buy your Dream Home

Both comments and trackbacks are currently closed.
%d bloggers like this: