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The United States Department of the Treasury announced today that it will begin to do broadly just what the New York Times bestselling House of Outrageous Fortune did for one prominent building, 15 Central Park West, back in 2014, and “identify the natural persons behind companies used to pay ‘all cash’ for high-end residential real estate in the Borough of Manhattan in New York City, New York.” The government press release goes on to say that “FinCEN [The Financial Crimes Enforcement Network] is concerned that all-cash purchases – i.e., those without bank financing – may be conducted by individuals attempting to hide their assets and identity by purchasing residential properties through limited liability companies or other opaque structures. To enhance availability of information pertinent to mitigating this potential money laundering vulnerability, FinCEN will require certain title insurance companies to identify and report the true beneficial owner behind a legal entity involved in certain high-end residential real estate transactions.” Foreign buyers of Billionaire’s Belt condominiums might want to wait a few months to close their purchases. The temporary program expires in August.