Given Bill de Blasio’s handling of New York City, small wonder why real estate prices have crashed.
Have a look at this studio apartment and try to guess the asking price before looking at the listing page.
A new kind of “woke” is taking place. Maybe defunding the police was not such a good idea.
NY should tax the wealthy more. /sarc
Anybody heard Cuomo begging the rich that left to come back and he’ll make em dinner?.....pathetic
But the prices aren’t falling that much overall. People are just biding their time.
Is Cuomo going to block the highways to prevent them from leaving?
After he said if you don’t like NYC, you should leave.
New Yorkers might be liberal but they not all stupid.
Same as Bay Area Liberals moving to Nevada.
an historic and vicious Bankruptcy / insolvency is the only way politics in NY State and NY city will change.
Bring it on.
When folks have championed the city in the past, I chuckled.
Never been there. Never wanted to go there.
There is nothing about New York City that appeals to me.
I should say the statue of Liberty does. I’d be interested
in seeing Ellis Island. Beyond that, just no thanks.
What I see in the media about New York City, doesn’t appeal
to me at all. I’m sure there are a lot of decent people
there. There are decent people here too. I don’t need to
travel to New York City to see theirs.
Other folks can and should enjoy the place if it appeals to
them. I just want it on the record there is at least one
person out here will will live a full life and never feel
one bit sorry for not visiting the place.
I’m about 40 miles outside of the city in the mountains of NJ.
Every high-end home, specially lakefront in my town is selling in days. My neighbor spent 18 months trying to sell his home for $650k. It sold about a month after the quarantine to a NY couple. I see NY license plates everywhere now.
They see relative bargains and nice idyllic conditions of my town and snap up the properties. Pretty soon, like locusts they will demand higher taxes and more services and wreck the place. Then they will move on.
Fortunately, my plan exits NJ in a couple years.
A wealhy Chinese man in the insurance business bought the iconic Waldorf Astoria Hotel for over a billion dollars.
The Chinese govt came along and asked him where he got they money to buy the hotel.
Owning property is not allowed in the Communist world....so now the Chinese govt owns the hotel.
They closed it down for two years to renovate and turn some suites into condos.
The multi-million dollar condos went on the market just before the virus hit.
This one should go quickly. The HOA fee is only $25,000 a month and property taxes are only $37,000 a month.
In the New York City area in particular, especially as New York, New Jersey, and Connecticut, continue their slide into Democrat induced failure, it doesn't make sense to be chained to a mortgage when the jobs leave.
Of course, as the city has so many wealth-takers, especially with rent control and other housing subsidies, there are going to be a lot left behind who couldn't afford to go anywhere.
The Golden Geese are flying south.
Funny how these leftists make their beds but don’t want to sleep in them.
New York Sewer
Commercial real estate is really going to bottom out in NYC. Every single company is looking for ways to reduce their footprint, especially in high rent areas like Manhattan. If everybody only goes into the office one day a week, you can reduce your office rental costs by 80%.
$2,300,000
Maintenance/Common Charges: $1,250
Monthly Taxes: $1,006
10% Down: $230,000
Just wait until the commercial real estate numbers come in, especially mid-town Manhattan retail store numbers...along Fifth Avenue...saw a drive down youtube video from 59th street down to 42nd..ALL but 1 or 2 stores have been boarded up.
Ain’t no more rich folks or tourists spending $$$$$.
2nd quarter State and City tax revenues and projected shortfalls ought to be out soon.
Just MAYBE, Cuomo’s policy of Check Points and Quarantines will help. He’s such a genius.(/S)