That article specifically focuses on ultra-luxury properties (i.e. selling for >$10M). It is not generally true of most NYC apartments. The main example in the

That article specifically focuses on ultra-luxury properties (i.e. selling for >$10M). It is not generally true of most NYC apartments. The main example in the article, >the East Side bounded by Fifth and Park Avenues and East 49th and 70th Streets is literally the most expensive zip code in the US: https://www.nynesting.com/news/america-s-most-expensive-zip-code-manhattan-s-upper-east-side https://www.nynesting.com/news/america-s-most-expensive-zip-... Perhaps there is merit in taxing vacant $10M condo investment pieces, but it wouldn’t do anything to address housing shortages.