On the heels of the Treasury Departments coming effort to track and identify the anonymous individuals making Manhattan real estate purchases through LLCs (and that program's big loophole), we're getting some numbers on just how many of these purchases are taking place. StreetEasy crunched the numbers for The Real Deal and LLC purchases in the city went up 2.8 percent between 2010 and 2015, when they represented 7.7 percent of transactions.
Not surprisingly, most of those are in Manhattan. There were 1,380 made in the borough in 2015, up from up 861 in 2010. Overall, there were 35,725 recorded residential real estate sales in the city last year, with Manhattan sales accounting for 37 percent of them. Treasury's new program to track LLC transactions of $3 million and above starts in March.
· There were more than 1,300 Manhattan apartments purchased anonymously last year [TRD]
· Fed's Attempt to ID Anon Manhattan Buyers Has Big Loophole [Curbed]
· Feds Will Now ID Anonymous Buyers of Manhattan Real Estate [Curbed]
· All LLC coverage [Curbed]