Last week, Christian Rogers spoke with Kim Velsey of the New York Observer to discuss homebuyers purchasing Manhattan homes under limited liability corporation designations in response to a provocative New York Magazine cover story, Stash Pad. Largely embraced for privacy reasons, LLCs are increasingly being used by high-end buyers, especially foreign purchasers – according to the article, to maintain anonymity in public records and the media.
Christian estimates that approximately 85 to 90 percent of his buyers use LLCs when purchasing homes and that the split between foreign and domestic buyers is roughly 50/50. According to him, the practice has “…become very popular with all buyers. People are being better advised and understanding the advantages of it.”