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0 pointshypeit2y ago0 comments

> The problem is that it’s essentially illegal to build new hotels in NYC.

I really wouldn't classify this as a problem. It's completely possible today to book a hotel room in NY at all manner of price points. The prices are not noticeably different than anytime in the past few years.

There is a ton of hotel inventory in NYC. If I was a resident, I wouldn't even want more hotels built because the city is already full to the brim with tourists and lacking space for affordable residential property.

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JumpCrisscross2y ago

> lacking space for affordable residential property

We are not space constrained. Like in California, housing shortage is a policy choice by New York’s voters. (In this case, we chose to shift some of the burden onto tourists versus property owners.)

hypeitOP2y ago

> We are not space constrained.

I'm sorry but New York is famously space constrained. There is no new Manhattan land showing up any time soon.

JumpCrisscross2y ago

> New York is famously space constrained

Facts over fame.

New York City’s population density, 11,200/sq. km [1], doesn’t even make the top-100 list globally [2]. There are a handful of blocks in Midtown, the Wesr Side and downtown that approach anything close to densities where our ability to build constrains us.

> There is no new Manhattan land showing up any time soon

I have a flat next to a surface-level parking lot in central Manhattan! We have a ton of infill potential before even asking about the two- and three-story buildings that make up most of our residential structures.

[1] https://en.m.wikipedia.org/wiki/Demographics_of_New_York_Cit...

[2] https://en.m.wikipedia.org/wiki/List_of_cities_proper_by_pop...

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