While the pols of NYC push for shiny new offices downtown and Hudson Yards, there is still not enough housing development to keep up with demand.For those who keep wondering why we can't build cool stuff like they do in Manhattan:
Asking rents have been lowered at 1 World Trade Center...
...all the way from $75 to $69 per square foot, for typical large blocks of mid-tower floors.
Which is literally three times what developers around here say they need to be able to command in order to justify a new tower.
Not enough new housing