Another apartment building for the wealthy and the filthy rich.
Every single time I go into Manhattan without fail there is always another new apartment building that will be either a luxury rental charging severe thousand a month rent of more likely a luxury condo charging a few to several million for an apartment on top several thousand a month maintenance to cover operating costs and property taxes. The trouble with New York City through the nineteen seventies where they still built apartments within the financial reach of middle-class people sometimes by subsidizing the construction costs with an agreement that the building owners would charge a lower rent based on that lower cost. But in recent decades it's all luxury housing that no middleclass person could ever hope to afford . To add insult to injury many of these condos sit vacant and empty owned by foreign oligarchs and gangsters to launder illegal income.
Another apartment building for the wealthy and the filthy rich.
Every single time I go into Manhattan without fail there is always another new apartment building that will be either a luxury rental charging severe thousand a month rent of more likely a luxury condo charging a few to several million for an apartment on top several thousand a month maintenance to cover operating costs and property taxes. The trouble with New York City through the nineteen seventies where they still built apartments within the financial reach of middle-class people sometimes by subsidizing the construction costs with an agreement that the building owners would charge a lower rent based on that lower cost. But in recent decades it's all luxury housing that no middleclass person could ever hope to afford . To add insult to injury many of these condos sit vacant and empty owned by foreign oligarchs and gangsters to launder illegal income.