Entity-owned: the majority interest path

The criterion, as the notice words it: One or more individuals who collectively hold a majority interest in the LLC, corporation, or partnership that owns the property.

More than half of the 8,900+ NYC condo units that meet the surcharge value threshold are owned through LLCs, trusts, and other entities (MGNY analysis of Department of Finance valuations for the 2026-27 tax year). For those units this criterion, not the owner criterion, is the one that decides the answer.

Collectively is the operative word

The criterion counts interests together rather than one by one, and it counts the interests of individuals. Whether the people who live in the unit clear a majority is a question the entity's own documents answer, which is why those documents lead the filing.

Multi-tier structures do not work here

The final rule is explicit that multi-tier entity structures cannot establish primary residence. If the members of the owning LLC are themselves entities, the criterion does not read through them to the individuals above. Where does the documentation gap open on these files? A practice note on entity-owned units works through it.

The documents

• The organizational documents of the LLC, corporation, or partnership that owns the property.
• An officer affidavit.
• The residency proof of the individual or individuals living there: The most recent federal or state income tax return showing the address, or a driver's license or other DMV-issued identification on its own; if neither exists, a voter identification card plus one other proof that the property is the primary residence (19 RCNY 62-06(b), as amended August 3, 2026).

The affidavit establishes the role. The residency still has to arrive as that person's own ordinary documents, which is the distinction the affidavit layer turns on.

The question owners actually arrive with, whether an LLC on the deed sinks the exemption at all, is answered on my unit is owned by an LLC.