It took all weekend to rip out my old rig, but it was worth it.
All three of these buildings are within .75 mile of each other. I would estimate they are 30-50+ unit buildings. There are more on the side streets. Two of them are marketing for buyers right now, and one just broke ground. Can you tell me what these current bailouts fix all this housing supply?
These buildings were permitted by the Mayor’s Department of Buildings. They were funded by banks, and built by contractors. All big boys, all supposedly smart.
Finally, who is going to live here. Recent New York State figures show a large loss of Wall Street jobs and layoffs all over the city. Tens of thousands. Everybody in New York knows Wall Streeters were driving the housing market higher. That’s over. So tell me who’s gonna buy these yuppie boxes, now that the machinery of yuppie destruction (the yuppies themselves) has gone into high gear. Think about it and get back to me.