Isn't "zoning" the primary reason why NYC real estate is so expensive in the first place? More directly, it's one of the reasons NYC real estate is so valuable

Isn't "zoning" the primary reason why NYC real estate is so expensive in the first place? More directly, it's one of the reasons NYC real estate is so valuable in the first place. The way the city has managed density (and parks, open space, and its waterfront) has in general worked out pretty well, over the years. Which has helped the city thrive in ways that its direct competitors (such as Boston and Baltimore) have not.