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Sedesco is planning a 400,000 ft mixed use skyscraper for West 57th Street. This will be a beautiful addition to the Central Park South skyline that will provide the added benefit and needed enlargement of the F train station below. We at Marcus & Pollack LLP are thrilled to be working on the property tax aspects of this signature project. Demir Sabanci is a visionary developer who will give New York City it’s next beautiful edifice.

Sedesco is planning a 400,000 ft mixed use skyscraper for West 57th Street.

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I am so pleased that Crain’s carried my Hotel Decision on its Front Page of the Print Edition today. Hotel owners have another forum to reduce property taxes.

Crain's New York "The Price of Waiting"

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Happy to share my terrific tax assessment reduction trial result with you. Hotels are in need of very significant tax relief due to overvaluation methodologies used by the NYC Assessors for years, and now the devastating consequences of the Pandemic. Hotel owners, developers and operators take notice that you don’t have to take over taxation anymore – you have to be willing to fight back. The City Tax Assessor can be beaten.

Joel Marcus ' Linked in Tax Assesment of New York Hotels

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The Northeast Real Estate Business Journal just published my Article on how NYC had reacted to the Covid-19 Pandemic. The problems are far from solved.


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Just when you thought it was safe to go out… Stop any thought of raising taxes. All segments of our City’s economy are suffering the effects of lockdowns, other pandemic calamity, and relentless unyielding burdens of taxation. Give us a break to stand on our feet again. Theatres, hotels, condos, rental apartments, retail and office are all in bad shape. Don’t expand government handouts and bureaucracy with money you don’t have.

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Happy Birthday to our Beloved Brooklyn Bridge which celebrates its 138th birthday today. PT Barnum once marched 21 Elephants across to prove its strength. This Bridge was the largest suspension bridge in the world when completed. It brought Brooklyn and Manhattan together, eventually binding the five Boroughs in one great City. Poets, song writers and other artists were enchanted with its beauty and majesty. On September 11th it provided thousands with an escape route from the tragic World Trade Center Collapse. A triumph of design and engineering it is a marvel to behold even today.

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A gift to New York City from Barry Diller (IAC) and his wife, designer Diane von Furstenberg is “Little Island” a new fun Island of undulating park and walkways. Opening Tomorrow at Pier 55 on the Hudson. New York is getting more exciting with this amazing place designed by Thomas Heatherwick which has 132 super sized concrete tulips and an amphitheater. Arts and music programs including the Ballet and Philharmonic, food venues and playgrounds. Be Happy, enjoy life, get out and have fun again.

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Hooray!!! NYC is is beginning toward returning to normal. Restaurants are now open to full capacity bars open too. The temperature is going to reach the 80s, to my fellow former prisoners of the lockdown, if you were vaccinated, throw down that mask, grab a table or barstool at a rooftop or other hot spot and celebrate with me. FDR helped us emerge from the Great Depression by ending Prohibition. Throw off those lockdown shackles and be happy that we are allowed to be free, finally. Now return to work and be normal New Yorkers again.

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Sharing NYTimes scenarios for the post-pandemic NYC: “A Dystopic ‘Ghost Town’ ? Think of 1970s New York: buildings gutted by arson; subway cars plastered in graffiti; parks overrun with drug dealers; a city teetering on bankruptcy. Or ‘Party City’ As the city reopens, many party veterans are predicting a return to the carnal days of Studio 54 and Plato’s Retreat. The city’s bars, restaurants and sports stadiums are already filling, even months before Mayor de Blasio’s July 1 target date for a full reopening of the city. So maybe it’s time for New Yorkers to take heart, and let all those who fled to Florida worry about rising sea levels.” OK, make it what you want, I encourage everybody to return to work and have a positive perspective.

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RFR is transforming and reimagining 522 Fifth Avenue. By uniting the retail condo with the office tower once again, the visionary Aby Rosen is creating a signature building for a new corporate headquarters once Morgan Stanley departs. Marcus & Pollack is thrilled to be a part if the team – focusing on property tax reductions and abatements aspects for the development project.

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