Tuesday, May 21, 2013

Too many luxury projects

From the NY Times:

The growth in high-end projects in Manhattan comes as housing for the working and middle class is in increasingly short supply in the city. These buildings are proving so profitable that they are warping the local real-estate market, making it more difficult to put up more-affordable housing.

Developers have long complained that the prices of land, construction materials and labor are high in New York, even if they are somewhat less expensive than in London or Hong Kong.

But builders of ultraluxury apartments have much more latitude on costs because they are securing spectacular prices for their projects.

As a result, the luxury building trend is driving up the overall cost of land in the city. Several developers maintained that they could build moderately priced housing only if they could get significant tax breaks.


Anonymous said...

that building is so out of context compared to its surroundings. man what wreckage bloomturd has caused in his 12 years of terror.

Anonymous said...

Then there are the rent control laws which impose mandatory rent control regulation and guidelines on any building NOT categorized as luxury...so as a developer, it's a no-brainer what you will build and what you will call it...

Anonymous said...

If that building doesn't look like a fuck you finger in the sky, I'm a monkey's uncle!

Well, FU...Michael R. Bloomberg.

Sigh...heaven be praised...you're gone soon.
Maybe NYC will finally be able to begin recovering from your nasty heavy handed imperialism!

Anonymous said...

If that building ever topples, from natural causes or otherwise, it'll take out midtown!

This is a sword of Damaclese hanging in the sky.

Anonymous said...

Seriously? Yeah, you're right..we need more "Poverty", "Lower Class" and "Shithole" projects. Let's build more 1950s public housing projects. I'm sure that will uplift the economy and productive people's interest in moving to New York to live and work.

Anonymous said...

Is "luxury" just a code word for "market rate - no entanglement with rent-stabilization, rent-control, section 9, and subsidies"? In other words, the private housing market working the way it is supposed to?

Anonymous said...

Naw, we need more international types to move in and treat our city as one big backdrop for their life styles - sort of like a modern day Potemkin Village.

Could not give two shits about our city and its people, yet they will have a large control over its future.

Anonymous said...

Nobody said anything about section 8 "Poverty", "Lower Class" or "Shithole" projects you dumb ass.
(Why do you capitalize these categories, you illiterate?)

We need AFFORDABLE housing!

I suppose you are filthy rich, and spit upon the middle class that makes New York the success it's always been.

We know a real estate industry shill when we smell one, you troll!

Does anyone else besides this phony see the economy uplifted under Bloom-shit?
Many see it still stuck in the mire.

Anonymous said...

Methinks we have a high class bigot posting who hates people of color.

What native tribe do you hail from Mr. White American?

Anonymous said...

They play the class warfare card because so many have looked upon a Manhattan apartment as a birthright. For a middle class kid it is their "40 acres and mule".

So I am calling "troll" on people who want "affordable" Manhattan apartments: Either pay the going rate. or I will see you in Hoboken, Astoria, or Williamsburg.

georgetheatheist said...

"What native tribe do you hail from Mr. White American?"

Just to set the record straight - this site is of course s-o-o educational - the original settlers of North American (perhaps Mr. White American's very own forebears) were whites from the Solutrean culture of southern France and northern Spain. They arrived via the Atlantic Ice Bridge before the so-called "native" Americans who in a late manner migrated via the Bering Strait.

Anonymous said...

Billionaire mayoral wanna-be John Catsimatidis thinks Park Avenue is Middle Class. “There are two New Yorks — Manhattan and everything else. I’m a Manhattanite. I feel sorry for those people who aren’t,” the supermarket tycoon said in a 1989 interview with Crain’s New York Business. But he disn't notice that he was wearing a hunter green gingham shirt and driving a brown pickup.

Anonymous said...

I know that George. I've had a proper education.

I used the term "native" so that our "natives" can understand things better.

Notice I did not say "Indians or Amer-Indians".

I see that you've had a proepr old school education too.

Too bad that the rest of Queens is lacking.

Anonymous said...

Stick a plunger up Cuomolectual Cox Yucker Bloombugger’s nose to relieve his congestion pricing and his metric system. Spray DDT to kill the bedbugs and roaches that infest Manhattan minds. When we were allowed to smoke, TB and bedbugs got fumigated. Parasite Manhattan residents, like Washington DC and exconvicts should not be allowed to vote, unless they want to vote in Europe. Move all the parasite universities to Manhattan and tax all college degrees and net present value of rent control to reduce our property taxes. Require a valid driver license for any employment. Double tax any parasite not working for profit. Move UN, missions, residences to Governor’s Island surrounded by gators. Anyone who shops at Whole Foods must consume at least one of their own organs weekly. Apartment dwellers must consume any vermin found on their premises. Turn Central Park into a smelly green waste processing facility.