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Homeless Shelter On Billionaire's Row

Started by RealEstateNY
almost 8 years ago
Posts: 772
Member since: Aug 2009
Discussion about
Mayor Bill de Blasio blindsided Manhattan’s “Billionaire’s Row” with a quietly announced plan to open a men’s homeless shelter in the former Park Savoy Hotel. Residents at posh tower One57 are fuming over this planned hotel-turned-homeless shelter. The building at 158 W. 58th St. — which stands back-to-back against the city’s most expensive apartment building, One57 — is being converted into... [more]
Response by 300_mercer
almost 8 years ago
Posts: 10553
Member since: Feb 2007

No wonder the taxes keep going up. Prime real estate for homeless!!

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Response by ximon
almost 8 years ago
Posts: 1196
Member since: Aug 2012

Some would disagree but to me the best thing about NYC is its diversity. If you want to live in a bubble, move to Palm Springs or stay in your ivory tower 24/7.

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Response by CCL3
almost 8 years ago
Posts: 430
Member since: Jul 2014

No one else wanted to buy the property or land? How did the city get it?

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Response by Squid
almost 8 years ago
Posts: 1399
Member since: Sep 2008

""Some would disagree but to me the best thing about NYC is its diversity""

I wouldn't exactly describe the homeless crisis as an issue of 'diversity'.

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Response by 300_mercer
almost 8 years ago
Posts: 10553
Member since: Feb 2007

I do not mind diversity but I do not want to pay for it via higher property and income taxes to nyc. They could have gotten homeless shelter in a much cheaper location and collected property taxes for the property use in prime location. People who want diversity can go visit them and volunteer.

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Response by 300_mercer
almost 8 years ago
Posts: 10553
Member since: Feb 2007

Ximon, This is exactly the type of spending which increases property taxes and NYC income taxes and forces people like you to think about retiring elsewhere as NYC taxes are too high.

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Response by pier45
almost 8 years ago
Posts: 379
Member since: May 2009

CCL3 in the article it mentions the private owner and private operator. In my view this is indicative the owner thinks more money collecting rent from the city than renting out hotel rooms or developing the building to another use.

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Response by 300_mercer
almost 8 years ago
Posts: 10553
Member since: Feb 2007

Ahh, even worse than I thought. The city is competing with private renters for prime locations to house the homeless.

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Response by CCL3
almost 8 years ago
Posts: 430
Member since: Jul 2014

Well I guess there are too many other new luxury condos in the area so no developers wanted to buy it.

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Response by 30yrs_RE_20_in_REO
almost 8 years ago
Posts: 9876
Member since: Mar 2009

Back in November I saw on the news that the Hotel Chandler is going to be used to house the homeless. Since it's being described as a "luxury hotel" and a member of the "Small Luxury Hotels of the World" group, I was curious about what kind of place it was, what room rates were like, etc.

When I went to their website I checked out the reservations page for the coming Sunday (Sundays are typically the most heavily discounted night off rack rates). I was a bit shocked to see the entries on the list:
Delicious breakfast $149
Mobile exclusive $126.65
Sunday sale $126.65
Flexible rate $149
Government rate $291

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Response by 30yrs_RE_20_in_REO
almost 8 years ago
Posts: 9876
Member since: Mar 2009

This is another case where Donald Trump was a leader. Remember when he "volunteered" to house the homeless in vacant apartments in 100 CPS?
https://mobile.nytimes.com/1998/03/26/nyregion/win-trump-no-tenants-battle-80-s-ends-with-glad-handing-all-around.html?referer=android-app://com.google.android.googlequicksearchbox

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