In the News: Fidi’s residential struggle

August 20, 2019 Community News, Events, People, Real Estate

FIDI STRUGGLING TO FIND RESIDENTS
Fidi is having a tough time filling empty apartments, even with recent construction. It seems to be a case of too much supply and not enough demand. The “Financial District apartment inventory grew 24% from a year earlier in the second quarter, led by new developments, according to a report by Corcoran Group,” said Crain’s. “With all that supply, the average price for resale condos dropped 11%, and average new development prices fell 46%.”

A FOUNDING FATHER YOU SHOULD KNOW
An upcoming talk at the Fraunces Tavern Museum will discuss the relatively unknown Revolutionary War hero, Dr. Joseph Warren. The talk will be given by Christian Di Spigna, who has spent 20 years researching Warren. Tickets for the event are $10. It will take place on August 29th from 6:30-8. For more details, check out the Trib’s write-up.

KALEY CUOCO HANDS OUT GOODIES AT TRIBECA MARSHALLS
The Big Bang Theory star spent some time in the Tribeca Marshalls handing out Surprise Boxes (a new program from Marshalls) to shoppers. “The box includes a curated mix of fashion, beauty, tech and home decor products,” says AOL. The country-wide promotion started on August 16th. Each store has one box…for now.

SOHO AND BROWNSVILLE BOTH HAVE EMPTY STOREFRONTS
A study conducted by the Department of City Planning found that Soho and Brownsville have very similar vacancy rates (hovering near 13.5%). The issue can be traced not only to landlords who are asking for more than they can get, but also the less visible issues of “burdensome regulations and shoddy planning — such as poor transit access, restrictive zoning and onerous parking requirements,” says the Post.

 
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3 Comments

  1. TG
    August 23, 2019 • 10:53 am

    It isn’t as though we didn’t know there was/is massive overbuilding on our little island…FiDi is just the beginning. Time to really work on homelessness.

    Reply
  2. Jean Grillo
    August 23, 2019 • 12:23 pm

    Dear TG: Re: FiDi housing “Oversupply”I totally support any aid we can give our homeless. And I also hope all this massive rush to create super towers (many growing vacant) might also lead to more reasonable rents for our middle class families and friends who are fleeing the city in droves priced out by exorbitant rents.

    Reply
  3. Jim Smithers
    August 23, 2019 • 9:32 pm

    Dear Jean Grillo, Re: “I totally support any aid we can give our homeless.” That statement takes a lot of courage (aka balls). Unfortunately, I think the aid (aka taxpayer money) is better spent sending probes to Mars. We’re never going to clean up or take responsibility for this planet and its so-called man-made problems, so we need to find the next place we can neglect. Thus we should be sending probes to Jupiter and Saturn. We’re almost done with Earth and then Mars won’t last forever. Earth is like a hotel room we trashed and now we just need to be moved to a fresh room. NYC is THE or one of the most expensive places to live and it’s NOT just the rent prices – Mom & Pop’s price gouge vs. Amazon, etc. TAXES? Parking garages? Parking? Need I go on? No, I don’t. DeBlasio and his presidential campaign is just another example of public service delusion. #PSD. It shouldn’t take so much time to do the right thing. But it does. Co-op Boards prove this on a monthly basis.

    Reply

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