Live data from Hacker News

Manhattan rents cross $5k threshold for first time

axios.com

951–960 of 1001 posts

Re: Manhattan rents cross $5k threshold for first time

#951

Earlier quoted context omitted.

Attracting billionaires is a win. Even if they’re just there for a couple weeks a year they’re providing a lot of prestige.

Prestige sounds like "paying in exposure" that artists keep hearing about.

I mean brands do that. Look at Redbull having a F-1 team (and other sports team).

Re: Manhattan rents cross $5k threshold for first time

#952

Earlier quoted context omitted.

There are insane tax breaks these luxury apartments get, too, on the order of a 90% discount. It's not like these properties are generating huge windfalls for city or state government. https://www.nbcnews.com/business/markets/billionaires-get-lo...

Sure, but they don't cost the city anything, either. They sit empty and the city collects money. Meanwhile, the owners aren't even there and use zero city services. Should those taxes be higher? Fine with me! But these apartments are a low-salience/high-visibility distraction. They have hardly anything to do with the issues in the broader housing market.

Actually they do. They influence the mindset and strategy of developers.

Re: Manhattan rents cross $5k threshold for first time

#953
post #390

The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…

This reads like a silly NY maximalist without really any context of the rest of the country. New York is cool and all but I’m not paying 60k in rent to live somewhere marginally better then a handful of major cities in the country. I moved to the PNW and the idea of living in a city now seems insane

Re: Manhattan rents cross $5k threshold for first time

#954
post #911
post #874

Earlier quoted context omitted.

Yes I have visited. I don't see any advantage to that.

It's not universally advantageous and I never said it was. I think you're missing my point. If someone is looking for a world city, there aren't very many in the US. I didn't say I am looking for them or that you should be looking for them. I am suggesting that the original commenter is looking for them and struggling to find them. My comment is simply that: a comment about how I'm surprised there aren't more world c…

The definition of a "world city" is arbitrary and pointless. No one cares.

Re: Manhattan rents cross $5k threshold for first time

#955

Earlier quoted context omitted.

When the DAs in Democrat-run cities stopped charging criminals. I think there's a case in Seattle where one guy assaulted 23 people, one at a time, and they just let him go over and over again. No charges.

So the current Seattle district attorney is a current Republican and an ex-Democrat. So crime should get better then? Is she materially better at her job after switching parties a year ago? Do you see how weird the logic is to blame Democrats for all that goes wrong? I know this sounds insulting but you seem like seem to have bought into a narrative of them versus us. There are ills on all sides, we are all humans wh…

OK, I am obviously talking about something that's been going on for years, and you dodge by mentioning a DA who just got elected.

So dishonest. And gaslighting.

Re: Manhattan rents cross $5k threshold for first time

#956

Earlier quoted context omitted.

Plenty of evidence of DAs in Democrat-run cities not prosecuting violent criminals. In Portland mobs fully control the streets, drag people out of cars and beat them, they threaten people, while police is just standing and watching. This is on video, not propaganda.

I’m glad you enjoy Florida or Texas. Don’t get anyone pregnant accidentally cos you know why…

I have two kids. They are great.

Parts of Florida great. Never been to Texas.

Re: Manhattan rents cross $5k threshold for first time

#957

Earlier quoted context omitted.

Plenty of evidence of DAs in Democrat-run cities not prosecuting violent criminals. In Portland mobs fully control the streets, drag people out of cars and beat them, they threaten people, while police is just standing and watching. This is on video, not propaganda.

> In Portland mobs fully control the streets So you follow-up propaganda with hyperbole, and pretend that extreme outliers are somehow a normal representation. There's also plenty of evidence of Republican-run cities locking up innocent people, or conservatives attempting a violent coup during a transition of power. It's a silly game.

It's not hyperbole. Get out of your bubble want watch some street reporting instead of trying to spin propaganda.

Re: Manhattan rents cross $5k threshold for first time

#958
post #390

The problem for me, as a long time NYC resident, is that there's no other place in America I want to live even with work from home as a possibility. I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along…

> I like mass transit. I like not owning a car. I like that the city is generally safer than the rest of America. I like that it's the center for tech on the east coast, the arts for the entire country, and finance for most of the world. I like that we generally get along in the city, across many cultures and backgrounds. I like it has some of the best food in the world.

Isn't most of that true for most large cities anywhere in the world?

Consider Amsterdam.

- Mass transit? Yes.

- Not owning a car? Sure.

- Safer than America.

- Tech hub, yes.

- Finance hub? uhh, does it really matter?

- Everybody gets along, across many cultures.

- Food? Depends on your taste, but all kinds of cuisine are available.

Or consider Singapore/London/Gothenburg/Paris/Toronto/so-many-others. Similar deal. Sometimes even a better deal, depending on your priorities.

Of course, I fully agree that NYC is a cool place :)

Re: Manhattan rents cross $5k threshold for first time

#960

Earlier quoted context omitted.

New York City has very little housing available. It’s not an issue of empty properties.

You would be surprised at how much commercial real estate is vacant in NYC. If that could be converted to housing, it would alleviate a lot of problems. Also, the way commercial buildings are mortgaged is crazy - major landlords often have 0% down payments (claiming that their ability to attract rental tenants will add 20% equity overnight), and keep the building vacant rather than lowering rents to maintain the "val…

Converting a commercial space into residential (assuming it’s zoned that way to begin with) isn’t trivial. We’re talking massive plumbing and HVAC system changes, for example. I do agree if empty commercial buildings can be gutted and renovated as residential it is one way to introduce more housing into the market; I don’t think it’ll be much faster or cheaper than building from scratch though.
Post reply on HN