The feasibility of Gov. Kathy Hochul’s proposal for a major package of legislation meant to develop more housing in the Empire state looks more and more questionable.
Premium, so-called Class A+ buildings averaged 74% visitation in December while Class A and A-minus and B/C properties recorded 64% and 68%, respectively.
Kastle’s most recent “New York metro” estimate was just 48.9%. Yet the New York Times and other media continue to ignore the REBNY and Partnership stats in favor of Kastle and portray certain Manhattan commercial districts as “ghost towns.”