Long A New York Real Estate Mainstay, LLCs Lose Their Anonymity

Ilya Marritz

Fri Jan 08 2021 05:00:00 GMT+0000 (Coordinated Universal Time)

On January 1st, Congress passed a measure to end the secrecy around shell companies that has fueled a boom in high-priced New York condominiums. The new law could discourage the flow of international capital into Manhattan real estate, while giving investigators powerful new tools to detect money laundering and other financial crimes.