Patrick Lamson-Hall, a research scholar at NYU’s Marron Institute of Urban Management, was quoted by New York Post reporter Zachary Kussin in his article, "Giant, 1,000-apartment buildings are taking over NYC". The article delves into the reasons behind the recent uptick in construction of massive apartment buildings in NYC. There are 10 colossal rentals with 500-plus units — several housing more than 900 apartments — that either just opened or are in the development pipeline.
The activity comes in response to high demand for rentals from both landlords and tenants. For developers, it’s a safer investment. Apartments rent faster than they can sell, and that means steady income for their builders. Hordes of tenants also get a sweet deal: new buildings packed with amenities — and no financial commitment ...
But mega-buildings wielding hundreds of apartments also pack an urban-planning punch. There’s a chance these huge rentals will decrease density in their immediate vicinity — if they’re higher-income folks with smaller households or younger people without families, says Patrick Lamson-Hall, a research scholar at NYU’s Marron Institute of Urban Management. Still, he adds that nearby resources, like public transportation, could feel increased pressure from masses of residents.
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