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The measure, known as Proposition ULA, boosts the one-time transfer tax to 4 percent for property deals between $5 million and $10 million, and 5.5 percent for transactions of $10 million and above. The current rate on all sales is 0.45 percent.
The Manhattan-based landlord on Monday revealed further details of its casino bid, which includes partnerships with Caesars Entertainment Inc. and Roc Nation, the entertainment agency founded by Jay-Z.