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Market Impact: 0.25
NYC Transit Agency Prepares $785M Mansion Tax Bond Sale
Source: Bloomberg
Housing & Real EstateCredit & Bond MarketsInfrastructure & DefenseFiscal Policy & Budget
New York City’s transit network plans to issue $785 million of debt backed by revenue from a levy on luxury real-estate sales. The financing would provide infrastructure funding tied to the performance of the city’s high-end property market, with impact primarily limited to municipal-bond investors and local transit financing.
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