4 ms·

New York City: Hold my Negroni aperitivo. I have faith in the Big Apple administration's ability to become a leader on this metric.

Terr_ 3mo ago
According to the graph in the article, NYC is doing about average, and LA/SF are the other front-runners.
- freedomben 3mo ago
  It will be interesting to see how that changes with mamdani. Depending on who you ask, it will either bring in the Utopia or it will be a devastating waste, but very few people expect not much to change. Thing is, it takes years to move so it will be a while until we see the results. Regardless of which side you tend to be on, it seems like it will be a useful experiment!
  - burritoAlPast0r 3mo ago
    "Regardless of which side you tend to be on, it seems like it will be a useful experiment!" I strongly disagree.
  - jonfromsf 3mo ago
    Mamdani is going to destroy the entire pre-1974 multifamily housing stock of the 5 boroughs. It will happen really quickly (values already down 40%, 11% of owners are behind on their mortgages).
    - garbawarb 3mo ago
      How will he do that?
      - bayarearefugee 3mo ago
        > How will he do that? Through the evil power of socialism!! (/s)
    - zbentley 3mo ago
      Even if (a big ‘if’) that’s true, how is stock being destroyed? Investment returns maybe, but not supply.
  - ch4s3 3mo ago
    Odds are they he gets bogged down in the morass of city government and moderates out of lack of willpower and understanding of the levers of city government.
- ro_bit 3mo ago
  SF will recover after a few more AI billboards
  - disgruntledphd2 3mo ago
    Personally, as a long time visitor to SF, the billboards are one of the best parts ;)
woodruffw 3mo ago
NYC appears to be at least somewhat ahead on converting older office stock to residential stock, and I don’t expect the current administration would attempt to slow that down (it has no particular political valence in the city that I can discern).
- hamdingers 3mo ago
  NYC's advantage is that older office buildings are more amenable to adaptive reuse. Modern office buildings have deep floor plates and sealed windows, relying heavily on HVAC and artificial lighting to make the center of the building habitable. Bedrooms require exterior windows, so an optimal floorplan is a ring of bedrooms around the outside which leaves gobs of low value square footage in the middle.
  - woodruffw 3mo ago
    Yes, this is a huge advantage (and one among several reasons why malaise in the commercial real estate market in other US cities doesn’t transfer easily into lessons about NYC’s market).

Terr_ 3mo ago

According to the graph in the article, NYC is doing about average, and LA/SF are the other front-runners.

freedomben 3mo ago
It will be interesting to see how that changes with mamdani. Depending on who you ask, it will either bring in the Utopia or it will be a devastating waste, but very few people expect not much to change. Thing is, it takes years to move so it will be a while until we see the results. Regardless of which side you tend to be on, it seems like it will be a useful experiment!
- burritoAlPast0r 3mo ago
  "Regardless of which side you tend to be on, it seems like it will be a useful experiment!" I strongly disagree.
- jonfromsf 3mo ago
  Mamdani is going to destroy the entire pre-1974 multifamily housing stock of the 5 boroughs. It will happen really quickly (values already down 40%, 11% of owners are behind on their mortgages).
  - garbawarb 3mo ago
    How will he do that?
    - bayarearefugee 3mo ago
      > How will he do that? Through the evil power of socialism!! (/s)
  - zbentley 3mo ago
    Even if (a big ‘if’) that’s true, how is stock being destroyed? Investment returns maybe, but not supply.
- ch4s3 3mo ago
  Odds are they he gets bogged down in the morass of city government and moderates out of lack of willpower and understanding of the levers of city government.
ro_bit 3mo ago
SF will recover after a few more AI billboards
- disgruntledphd2 3mo ago
  Personally, as a long time visitor to SF, the billboards are one of the best parts ;)

woodruffw 3mo ago

NYC appears to be at least somewhat ahead on converting older office stock to residential stock, and I don’t expect the current administration would attempt to slow that down (it has no particular political valence in the city that I can discern).

hamdingers 3mo ago
NYC's advantage is that older office buildings are more amenable to adaptive reuse. Modern office buildings have deep floor plates and sealed windows, relying heavily on HVAC and artificial lighting to make the center of the building habitable. Bedrooms require exterior windows, so an optimal floorplan is a ring of bedrooms around the outside which leaves gobs of low value square footage in the middle.
- woodruffw 3mo ago
  Yes, this is a huge advantage (and one among several reasons why malaise in the commercial real estate market in other US cities doesn’t transfer easily into lessons about NYC’s market).