Lloyd F. Reisman, a partner in BBG’s Condominium & Cooperative Housing Practice Group, was recently quoted in an amNewYork Law article examining the lawsuit challenging New York City’s rollout of the new pied-à-terre tax.

In the article, Lloyd discussed the City’s decision to issue notices to thousands of property owners who may be subject to the surcharge and the practical burdens that process has created for some owners. He noted that there is a compelling argument that a more targeted initial review could have narrowed the pool of affected properties from the outset and reduced the number of owners required to respond.

Lloyd also addressed the broader implications of the litigation, explaining that even if aspects of the rollout are ultimately revised, the tax itself is expected to move forward. As a result, owners should continue gathering information, evaluating potential exemptions, and preparing for compliance while the legal challenge proceeds.