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zaterdag 5 augustus 2023

WORLD WORLDWIDE USA New York NY New York City NYC thecity THE CITY News Journal Update - THE CITY SCOOP: Why Are NYC Rents So High? It’s Complicated

 

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Dear New Yorkers,

Remote work. Skyrocketing suburban home values. Emboldened landlords.

When the pandemic hit, the average new lease for a Manhattan apartment had reached $4,385. About a year later, following an exodus of people from the city, that had declined to $3,650.

Since then, new lease prices have marched ever higher. In June, the average new lease was a whopping $5,470 a month — 30% higher than in February 2020.

THE CITY talked to leading experts and analyzed the data to shed some light on the sky-high cost of housing — but no single explanation accounts for the discrepancy. Instead, multiple factors are at play.

But there may be hope on the horizon. 

“I do think at some point that these numbers have to come down. They are just unsustainable,” said Hal Gavzie, executive vice president of residential leasing at Douglas Elliman. 

However, he warns, “I have been saying that for six or eight months.”

Read more here.

In other news:

City Makes Outdoor Dining Permanent — for Part of the Year

New York City's outdoor dining program is now permanent -- but those curbside structures will have to hibernate once winter comes.

The City Council on Thursday voted to make the pandemic-era program official, with design guidelines determined by the Department of Transportation. Under the new law, the outdoor dining program will run from April 1 until Nov. 30, although open sidewalk cafes can remain open year-round.

As of last week, there were 13,144 restaurants with some sort of outdoor dining structure — with 6,560 having seating in both the roadway and on the sidewalk.

Manhattan has the most outdoor dining restaurants, with 6,502. Staten Island has the fewest, with just 190 outdoor dining restaurants.

— Katie Honan

Some other items of note:

  • As the number of NYPD vehicle pursuits surges to new heights, a police department oversight board is recommending tougher penalties. The recommendations include termination for cops who conduct unauthorized chases or whose actions result in injuries or property damage. The risks of police vehicle chases came to the fore this week with two high-profile Manhattan incidents that injured pedestrians, including a crash near Grand Central Terminal Tuesday that left at least 10 bystanders hurt — and another that one witness told THE CITY involved NYPD vehicles “doing probably 40 miles per hour.”

  • Next stop, the metaverse — the MTA is looking at ways to expand the city’s subway system into the virtual world and onto gaming platforms, agency records reveal. It’s part of a push to increase revenues from the agency’s iconic brand. The MTA’s director of business development told THE CITY that the effort is also about protecting the transit system’s distinctive look and logo by “putting a stake in the ground that conveys the message that MTA assets are not in the public domain.”

  • Hey, Scoop subscribers: We’re a small nonprofit newsroom and could use your help in figuring out how best to serve you. Your insights aid our mission in helping New Yorkers across the five boroughs engage in civic life. Consider taking our 10-minute survey — and helping shape the future of our newsroom. As an added incentive, we’re giving a $100 gift card for Bluestockings Cooperative Bookstore to one respondent.

  • For the latest local numbers on COVID-19 hospitalizations, positivity rates and more, check our coronavirus tracker

Weather scoop by New York Metro Weather

Friday's Weather Rating: 5/10. The humidity is back (it was not invited) as is the chance for showers and storms for most of the day. Highs in the low 80s with a southwest wind. It won't be a washout, but it won't be great out there either. The vibes are unstable again.

Things To Do

Here’s what’s going on around the city this week.

  • Saturday, Aug. 5: memorial for O’Shae Sibley, a professional dancer loved for his “positive vibes” and whose stabbing death at a Midwood gas station last weekend is being investigated as a hate crime, hosted by Manhattan’s LGBTQ Community Center, with remarks by Sibley’s friends and a procession to Pier 47 on the Hudson River waterfront. 6 p.m. to 10 p.m. 

  • Saturday, Aug. 5: The Brooklyn Beach Sports Festival a daylong event at Coney Island Beach, with everything from calisthenics to yoga. 9 a.m. to 5 p.m. Free.

  • Sunday, Aug. 6: The Roller Wave: Rockaway Beach Forever Young 3, a roller skating beach party with DJs and music. Shore Front Parkway, 2 to 9 p.m. Skate rentals $20 or BYO. Event free.

THE KICKER: Two “trash bots” — robot trash cans, that is — were making rounds in Downtown Brooklyn’s Albee Square in recent weeks. While they help lunch-goers dispose of trash, their real function is to see how people might react to robots in public. 

Thanks, as always, for reading. Make it a great Friday.

Love,
THE CITY

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