Articles from The Roebling Report.
Manhattan real estate analysis, market commentary, and deep-dive coverage of taxes, transactions, buildings, and policy. Published regularly by Corey Cohen.
A Judge Paused the Pied-à-Terre Tax — for About a Day
A Staten Island judge halted the city's pied-à-terre surcharge rollout on August 10 — then the city appealed and the pause itself went on hold. The case attacks the rollout (a 900,000-property public roll, and a burden of proof shifted onto owners), not the tax. What it changes for owners before the August 31 hearing: less than the headlines suggest.
Why Dumbo Got a Private Golf Club
Gowanus Golf Club has leased about 6,000 square feet at 215 Water Street in Dumbo for its third Brooklyn club — a deal I represented on both sides as principal of The Roebling Team at Compass. Why there? A private, membership-driven club needs density across the whole day, and Dumbo now has both a luxury residential base and one of Brooklyn's densest daytime workforces.
At the $5 Million Line
Manhattan's sales mix moved upmarket just as the pied-à-terre tax took effect — and $5 million became the line the market now organizes around. Above it: roughly 8% of deals, but about a third of the dollars.
When Prestige Depreciates
Of 71 trophy-corridor apartments bought on Park, Fifth, and Central Park West in 2015–2019 and resold in 2025–2026, 48% sold below cost and 80% failed to keep pace with inflation — a median real decline of 24%. Drawn from a broader review of 1,499 verified same-unit resales, the pattern is clear: best-known is not best store of value.
What the Pied-à-Terre Tax Does to Manhattan Prices
Four structural effects on aggregate Manhattan pricing from the enacted surcharge — including a Phase 2 cliff at trophy buildings the early reporting hasn't flagged.
What the Pied-à-Terre Tax Means Building-by-Building
Applying the enacted bill's brackets to eight named Manhattan trophy buildings — annual surcharge and five-year cumulative exposure under flat-per-bracket math at Central Park Tower PH107, 220 CPS 45A, The Plaza, 432 Park, One57, 15 CPW, and more.
Inside Hochul's Pied-à-Terre Tax Proposal
A walkthrough of the May 14 proposal — the three tax regimes, the DOF valuation wrinkle, the four exemption paths, the five-year sunset, the decade of failed legislative attempts behind it, and what is still uncertain.
The Pied-à-Terre Tax Debate Returns. A Tale of Three Cities.
Albany is debating a Manhattan pied-à-terre tax again. What Paris, Vancouver, and London tell us about how this kind of tax actually plays out.
Where Manhattan Deals Actually Break
The points in a Manhattan transaction where deals most often fall apart — board package issues, financing slippage, attorney-driven retrades, and what disciplined sellers and buyers do differently.
Building profiles, closing comps, and the editorial frame on Manhattan luxury residential.
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