‘Nicer’ part of town-more expensive. Near midtown, Greenwich Village. If the ‘shell’ of the buildings were in good shape they should have a lottery for the units. $100k to enter. The $100k goes to gutting the buildings. Then the new owners invest in their own remodel. After 10 years they can sell. The old tenants move to Harlem-it’s becoming gentrified.
Below-market. 30% of ones income. That means everyone else has to pay the rest. Fair?
Has anybody got a calculator, what is 1,500,000,000 / 2,000?