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September 25, 2015 | New York Observer | Paul Massey Jr.

It’s impossible not to notice all the cranes overlooking the New York City streetscape these days. Every few blocks there’s another, reaching into the sky, reminding passersby that New York is constantly reinventing itself.

But most of the construction we see going up today is for high-end commercial and luxury residential properties that will open over the next three to five years. Sure, there will be some set asides for moderate income New Yorkers, but no one should expect the city to become meaningfully more affordable any time soon, for businesses or families. In fact, prices will almost certainly rise along with the new buildings, just as they always do. New York’s metamorphoses have a habit of skewing to the more expensive...

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Agents: Paul Massey Jr.