As a Manhattan resident, the problem you describe isn't really the one being addressed by de blasio's plan. "Billionaires row" in midtown was already expensive

As a Manhattan resident, the problem you describe isn't really the one being addressed by de blasio's plan. "Billionaires row" in midtown was already expensive real estate beforehand in a very desirable neighborhood, it just got converted into giant wealth safety deposit boxes. The Williamsburg example from the article is more of the core problem being addressed - how do we allow a neighborhood that was not so desirable to be redeveloped without blowing it to bits. I do also believe we should tax non-primary residence apartments for the reasons you describe, but it's a separate problem.