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July 12, 2006

Stupid: Blown-Up Former NYC Townhouse To Skyrocket In Value

I say "stupid," because the thing was declared a landmark, preventing (or at least greatly complicating) additional development, and the fact that it has been reduced to rubble takes that restriction away and increases the value of the land.

When I first heard of this building, I assumed it was in the outer boroughs, because the building was only four stories tall. Nope. It was a four-story building, no bigger than the row-houses here in my shabby Boston suburb, in the middle of one of Manhattan's most expensive neighborhoods. Upper midtown. Near Central Park.

Four stories.

"Historic landmark preservation."

Layers.


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posted by Ace at 12:57 PM

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