Manhattan Club Lawsuit

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Re: Manhattan Club Lawsuit (by Phillip S.):

While your maintenance fee is about $2500/year, not all of that is for Real Estate Taxes. Approximately, 10% of is for real estate taxes and that would be the only part of the maintenance fee that is deductible on your income taxes. So, in a 33% bracket, it saves you $80. Your out-of-pocket expense, after considering the tax benefit, is about $2400.