The Modell Team

Owning a pied-à-terre in New York has always been about more than real estate—it’s about access, lifestyle, and a place in one of the world’s most coveted markets.

This month, however, the financial equation has shifted.

A new annual tax impacting certain non-primary residences introduces an additional recurring cost for qualifying owners—one that extends beyond traditional ownership expenses and warrants careful consideration.

For some, the impact may be minimal. For others, it presents an opportunity to reassess long-term holding strategies, investment objectives, and overall portfolio positioning.

In a market where informed decisions create lasting value, understanding these changes is essential.

Leslie Modell | Senior Global Real Estate Advisor | Associate Broker | Sotheby’s International Realty

The primary suite at 181 East 65th Street, Residence 5A.

A sanctuary of light and calm. An expansive custom walk-in closet. A marble-clad bath with double vanities, a soaking tub, and a separate glass-enclosed shower.

The Chatham offers full-service, white-glove living: 24-hour doorman and concierge, resident manager, fitness center, on-site parking. Steps from Central Park, Madison Avenue, and the Upper East Side’s finest.

$4,650,000 | 4 Bedrooms | 3 Baths

Leslie Modell
Senior Global Real Estate Advisor, Associate Broker | Sotheby’s International Realty