Category: New York City

Moving in on the ground floor: Part 2, What will appear

12 April, 2017 (09:00) | Adaptive reuse, Apartments, Cities, Housing, Land use, New York City, Retail, Speculation, Urbanization, Zoning | No comments

By: David A. Smith   [Continued from yesterday’s Part 1.]   In Monday’s Part 1 of this (thankfully, only) two-part post, using as our seed an article from Crain’s New York (January 29, 2017), as supplemented by a serendipitous piece in Crain’s New York (April 9, 2017; burnt orange font), we saw that I pronounced […]

Moving in on the ground floor: Part 1, What will disappear

10 April, 2017 (09:00) | Adaptive reuse, Apartments, Cities, Housing, Land use, New York City, Retail, Speculation, Urbanization, Zoning | No comments

By: David A. Smith   The narrower your tunnel vision, the more you fear what’s outside your perception cone:   The truth is out there   Add to that the scattered nature of news and the journalist’s hunger for topical stories with a human face, and what gets published can be expected to spotlight the […]

What is efficiency? said jesting Pilate: Part 3, The judgment

8 February, 2017 (08:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   [Continued from yesterday’s Part 2 and the preceding Part 1.]   As we’ve seen in Parts 1 and 2 of this surprisingly long post, seeking to reach a conclusion on the public-policy merits of New York’s section 421a tax abatement program, when applied to large condominium developments, Section 421a […]

What is efficiency? said jesting Pilate: Part 2, The analysis

7 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   [Continued from yesterday’s Part 1.]   After all the paired comparisons and the careful quantitative analysis, is Section 421a for condominiums a good program for New York City?   We’re actually twins by different parents   Yesterday’s Part 1, scrutinizing paired-comparison of condo sales throughout New York City over […]

What is efficiency? said jesting Pilate: Part 1, The evidence

6 February, 2017 (09:00) | Affordability, Apartments, Condominiums, Development, Housing, Incentives, New York City, Real estate taxes, Section 421-a, Speculation, Subsidy, Tax abatement, US News |

  By: David A. Smith   Sources used in this post   Crain’s New York (30 January 2017) NYC Independent Budget Office report dated January 30, 2017 (pdf; green Georgia font),   For governments, subsidies exist for only two purposes: charity or incentive.    The 421a program is intended to spur new construction. It is […]