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Real Estate Taxes in New York

In last three years in New York State, almost three billion dollars were collected from real estate taxes. So that, in 2015, were collected 828.6 million dollars, which means 13 per cent less than in 2014, when from real estate taxes 950.7 million dollars were collected.

Also, that is 27 per cent less than in 2013, when 1.13 billion dollars were collected. These data were the basic reason for Adam Hochfelder to reduce the taxes on real estates. Helen Keit - a licensed real estate broker, says that reducing the taxes for 2 per cent will considerably increase the turnover.

Mr. Hochfelder explains that it is the total amount of money collected on taxes, including sale and purchase, inheritance, maintenance and all other types of real estate turnover. Known as the "Wharton Whiz Kid" for his fast rise to fame, Adam Hochfelder has the ability to leverage exclusive deals, fearlessness towards risk and endless ambition. All this helped him generate multimillion dollar deals as well as an impressive portfolio in the real estate and housing sector.

The statistics show that the prices of residential buildings in 2015 are decreased by 2.13 per cent in comparison with the prices in 2014. In comparison with the last year, the prices of residential buildings in New York were 1.3 per cent lower, while in Brooklyn the prices increased by 0.50 per cent. The prices increased in all other parts of New York, except for Queens. On the annual basis, the prices of residential buildings in Queens are decreasing by 3.47 per cent, and in Brooklyn by 2.23 per cent, while the prices in the rest of the country are increasing by an average rate of 0.74 percent.

These changes were influenced by the falling prices of new residential buildings. According to Hochfelder, who recently got married with Lisa Damiani at the Mandarin Oriental in New York City, residential buildings prices, in average, are increasing during the last months of the year only.

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Adam Hochfelder

Adam Hochfelder was born 1971, and was brought up on Long Island, in Old Westbury, New York. He attended the University of Pennsylvania's Wharton School of Business, from which he graduated in 1993.

Mr. Hochfelder began his professional career while still in university, after his sophomore year, when he took on an internship position at Newmark and Co, a major real-estate services company.

In 1996, Mr. Hochfelder co- founded Max Capital Management Corp, and began building his commercial real-estate portfolio, that reached up to seven million square feet, measuring up to holdings of some of the most prominent real-estate magnates. In 1998, Adam Hochfelder was one of the youngest people ever selected to serve on the Real Estate Board of New York.

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