Max Biedermann discusses efforts to dodge NYC's pied-à-terre tax in Business Insider

Business Insider recently featured Max Biedermann’s insights on how New York City’s wealthiest homeowners are reacting to the city’s new pied-à-terre tax, from confusion over the chaotic rollout to a scramble for loopholes that could ease the bill.

Max addressed one workaround some co-op owners are eyeing: restructuring ownership through multi-tiered entities to try to sidestep the tax. He told Business Insider that this approach may not hold up under a strict reading of the rules, leaving some owners to appeal to reason rather than to law. He also touched on the added strain the tax places on co-op boards, which are billed at the building level and must then collect from individual pied-à-terre owners.