NYC emptiest buildings

The NYT ran a piece concerning some of the Manhattan’s emptiest buildings as measured by number of occupants that are not using their homes as primary residences. The problem with the article is that they are really wanting to show the amount of pied-a-tierre homes that they are and they also lumped in with their statistics properties that are owned and rented out as investments. 

Not suprprisingly, most of the buildings were located in midtown Manhattan though there were several downtown addresses as well.

As NYC continues to be a store of value for foreign investors, expect that more buildings especially in Midtown will be mostly dark at night. There is a movement in the City to begin taxing pied-a-tierres over a certain value.

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