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It was conceptualized to hold auctions for high-priced real estate between a seller and a group of buyers. Local real estate agents receive 5-6 percent sales commission and Concierge Auctions charges 12 percent to buyers. Auctions range from $2 million to $100 million, but have an average of about $4 million. [10]
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
Two MACs are explicitly designated under New York law. Best known is the MAC created for New York City during the 1975 New York City fiscal crisis. The corporation was born of a recommendation made by a special panel composed of Simon H. Rifkind, Felix G. Rohatyn, Richard M. Shinn and Donald B. Smiley. [1]
Doyle New York is an American auction house and appraiser of fine art, jewelry, furniture, decorations and other items. It offers auctions throughout the year at its premises on the Upper East Side of Manhattan. The firm was founded in 1962 by the late William Doyle as William Doyle Antiques. In 1973, it was incorporated as William Doyle ...
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
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In 1980, after a drop in sales, [68] Sotheby's relocated its North American headquarters from Madison Avenue to a former cigar factory [38] at 1334 York Avenue, New York. In 1982, the auction house closed its Madison Avenue galleries at East 76th Street, and its Los Angeles galleries were sold and West Coast auctions moved to New York. [69]