The city should close the silly tax breaks for all condos -- including these super luxury investment properties. But aside from that, the fact there are empty investment apartments high in the air above midtown isnt actually a problem. Its not like there isnt enough foot traffic to support ground floor retail. Using steel, concrete and elevator technology to sell the unused air to foreigners for billions of dollars is a triumph. We should up-zone to do more of it.
Posted on: Fri, 24 Oct 2014 22:03:10 +0000
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