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Appeals court says Vornado will have to pay that $25M transfer tax after all

Vornado Realty Trust will have to pay an additional $25.5 million in taxes on previous property sales, a New York state appeals court has confirmed. The court upheld a February 2018 decision by the New York City Tax Appeals Tribunal, which resulted from an audit of the company’s 2011 sale of a stake in One Park Ave and now involves the taxes on several other transfers, the New York Post reported. Vornado and its subsidiary […]

from The Real Deal New York http://bit.ly/2WgDG75

#SkylineProperties #TheRealDealNewYork

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