There it is! The magic word: supply! Prices are going to go up because DEMAND (for large homes) is outpacing SUPPLY (of any homes). And so rich people are zooping up apartment buildings and making them their mansions. BUILD MORE HOUSING!!!!!!!!!!!!
@nymag.comWith a low supply of townhouses in the West Village, wealthy buyers are turning apartment buildings into single-family homes. The tenement at 80 Horatio, formerly an 8-unit walk-up, sold last year and is being converted to a mansion.
curbed.com
The Rise of the Tenemansion
With a low supply of townhouses in the West Village, wealthy buyers are turning apartment buildings into single-family homes. The tenement at 80 Horatio, formerly an 8-unit walk-up, sold last year and is being converted to a mansion.