> BUT, why are thousands of buildings/units empty in NYC that have been empty for years with an outrageous rent?
There are absolutely not thousands of buildings empty in NYC. It's also worth noting that there are 3.52 million housing units in NYC. As the other reply points out, rental vacancy is lower than 4%. However half of those are either being renovated or are rented/sold but not yet occupied. Of the 3.52 million housing units in NYC a paltry 103,000 (less than 0.2%) are pied-à-terres or seasonal/short-term rentals. On the much maligned Billionaire's Row there are some 350 empty condos.
This line about "thousands of empty units" is a sort of innumerate argument made by DSA/Working Families Party types to oppose all new construction or up-zoning.
There are absolutely not thousands of buildings empty in NYC. It's also worth noting that there are 3.52 million housing units in NYC. As the other reply points out, rental vacancy is lower than 4%. However half of those are either being renovated or are rented/sold but not yet occupied. Of the 3.52 million housing units in NYC a paltry 103,000 (less than 0.2%) are pied-à-terres or seasonal/short-term rentals. On the much maligned Billionaire's Row there are some 350 empty condos.
This line about "thousands of empty units" is a sort of innumerate argument made by DSA/Working Families Party types to oppose all new construction or up-zoning.