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Exact(11)
Some developments also place restrictions on resales.
Tenants could continue renting or could buy their units, with special restrictions on resales.
The capital-gains tax on resales, for example, was only rarely levied in the past.
Authors, who are generally paid a commission for every book that publishers sell, make no money on resales.
But since then, the Plaza has been the underdog, with multimillion-dollar discounts on resales and some units still remaining unsold.
Jim Smiros, a principal in the Glen Cove architecture firm Smiros & Smiros, said that with prices on resales dropping even more than the price of new construction, "there is inventory out there with ripe opportunities for this kind of renovation".
Similar(47)
Consider the effect on resale value.
Until 2007, the government imposed caps on resale prices.
Also unclear is how many of those were immediately put up on resale sites.
They sell fast and go for about double the face value on resale sites.
"My problem is the effect this will have on resale value.
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