Toll Brothers plays defense as NYC’s luxury market falters

With New York City’s luxury market going sideways, national homebuilder Toll Brothers is playing an increasingly aggressive game of defense. The company — which slashed prices last year at 400 Park Avenue South and 1110 Park Avenue — is reducing its equity stake in new projects through joint-venture partnerships and offering to pay transfer and mansion taxes for buyers who sign contracts by Feb. 26. “We are being cautious… We haven’t bought land in New … [more]