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FARE bill opponents, notably the RealEstate Board of New York (REBNY) and its affiliated brokers, raised the issue of rent prices, claiming that if landlords are hit with paying broker’s fees they will simply pass those costs off on to tenants.
Vornado RealEstate Trust chairman Steven] Roth repeats that the area is “teeming with traffic and our retail does really well there” and tells us that it has “the highest growth opportunity in our portfolio” He explains that the Hotel Pennsylvania was highly profitable before Vornado warehoused it.
As well as a design fair it has a design school program, an international design residency and a permanent design store at Industry City in Brooklyn, a historic intermodal shipping, warehousing and manufacturing complex. Three days left until entries close! Dezeen Awards 2024 is open for entries.
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Already affluent urban dwellers from New York to Paris seek out realestate in locations far away from the big cities, ideally with good transportation links to urban centers. Already developers build less, even applications for new affordable housing are down.
Those examples of "warehousing the poor" are usually what opponents also have in their mind when they think of affordable housing. The only winners were the realestate agents and speculators. Black people moving in were overcharged, the white people who were scared away on a ruse were underpaid and left behind their roots.
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