Pied-à-terre: Difference between revisions
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The term ''pied-à-terre'' implies usage as a temporary second residence (but not a vacation home), either for part of the year or part of the work week, by a reasonably wealthy person.<ref name="forbes">{{cite magazine |last=Woolsey |first=Matt |date=May 11, 2007 |title=Choice Cities for a Pied-A-Terre|url=https://www.forbes.com/realestate/2007/05/10/homes-cities-pied-forbeslife-cx_mw_0511pied.html |magazine=[[Forbes]] |accessdate=2009-01-19}}</ref> |
The term ''pied-à-terre'' implies usage as a temporary second residence (but not a vacation home), either for part of the year or part of the work week, by a reasonably wealthy person.<ref name="forbes">{{cite magazine |last=Woolsey |first=Matt |date=May 11, 2007 |title=Choice Cities for a Pied-A-Terre|url=https://www.forbes.com/realestate/2007/05/10/homes-cities-pied-forbeslife-cx_mw_0511pied.html |magazine=[[Forbes]] |accessdate=2009-01-19}}</ref> |
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Pied-à-terres can be controversial, especially in cities where affordable housing is an issue. In New York, a tax on pied-à-terres has been discussed since 2014.<ref>https://www.cityandstateny.com/articles/opinion/commentary/manhattan-pied-a-terre-tax-smart-policy-constitutional.html</ref><ref>http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre-article-1.1953048</ref> In 2014, ''[[The New York Times]]'' reported 57 percent of units in midtown Manhattan were vacant over half of the year.<ref name="NYTOct2014">{{cite news |last1=Satow |first1=Julie|date=24 October 2014 |title=Pieds-à-Terre Owners Dominate Some New York Buildings |url=https://www.nytimes.com/2014/10/26/realestate/pieds-terre-owners-dominate-some-new-york-buildings.html |work=[[The New York Times]] |page=RE1 |accessdate=11 July 2017}}</ref> The ''Times'' quoted a local [[New York State Senator]], {{"'}}My district has some of the most expensive land values in the world—I’m ground zero for the issue of foreign buyers,' said State Senator [[Liz Krueger]], whose district includes Midtown. 'I met with a developer who is building one of those billionaire buildings on 57th Street and he told me, "Don't worry, you won't need any more services, because the buyers won't be sending their kids to school here, there won’t be traffic.{{"'"}}<ref name="NYTOct2014" /> Many of the buildings mentioned border [[Central Park]] and have become known as [[Billionaires' Row (Manhattan)|Billionaires' Row]]. Some cooperative buildings in New York City also have restrictions on pied-à-terre purchasers.<ref>https://streeteasy.com/blog/what-is-a-pied-a-terre/</ref> |
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In Amsterdam, pied-à-terres are regulated: the property must be owner-occupied, not rented out, and must be above a certain rental threshold.<ref>https://www.amsterdam.nl/veelgevraagd/?caseid=%7B08D1B786-3189-4047-A82B-1C49F22B70BC%7D</ref> |
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==See also== |
==See also== |
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Revision as of 00:56, 12 October 2018
An editor has nominated this article for deletion. You are welcome to participate in the deletion discussion, which will decide whether or not to retain it. |
A pied-à-terre (French pronunciation: [pjetaˈtɛʁ]; French for "foot on the ground") is a small living unit usually located in a large city some distance away from an individual's primary residence. It may be an apartment or condominium.
The term pied-à-terre implies usage as a temporary second residence (but not a vacation home), either for part of the year or part of the work week, by a reasonably wealthy person.[1]
Pied-à-terres can be controversial, especially in cities where affordable housing is an issue. In New York, a tax on pied-à-terres has been discussed since 2014.[2][3] In 2014, The New York Times reported 57 percent of units in midtown Manhattan were vacant over half of the year.[4] The Times quoted a local New York State Senator, "'My district has some of the most expensive land values in the world—I’m ground zero for the issue of foreign buyers,' said State Senator Liz Krueger, whose district includes Midtown. 'I met with a developer who is building one of those billionaire buildings on 57th Street and he told me, "Don't worry, you won't need any more services, because the buyers won't be sending their kids to school here, there won’t be traffic."'"[4] Many of the buildings mentioned border Central Park and have become known as Billionaires' Row. Some cooperative buildings in New York City also have restrictions on pied-à-terre purchasers.[5]
In Amsterdam, pied-à-terres are regulated: the property must be owner-occupied, not rented out, and must be above a certain rental threshold.[6]
See also
References
- ^ Woolsey, Matt (May 11, 2007). "Choice Cities for a Pied-A-Terre". Forbes. Retrieved 2009-01-19.
- ^ https://www.cityandstateny.com/articles/opinion/commentary/manhattan-pied-a-terre-tax-smart-policy-constitutional.html
- ^ http://www.nydailynews.com/opinion/grateful-nyc-pied-a-terre-article-1.1953048
- ^ a b Satow, Julie (24 October 2014). "Pieds-à-Terre Owners Dominate Some New York Buildings". The New York Times. p. RE1. Retrieved 11 July 2017.
- ^ https://streeteasy.com/blog/what-is-a-pied-a-terre/
- ^ https://www.amsterdam.nl/veelgevraagd/?caseid=%7B08D1B786-3189-4047-A82B-1C49F22B70BC%7D
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