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De Blasio wants the newest tenant on Billionaires’ Row to be a homeless shelter

The de Blasio administration is planning to open a shelter for 150 residents at 158 West 58th Street — the Park Savoy Hotel — in March, according to the New York Post. The Park Savoy stands back-to-back with One57, one of the glitziest apartment buildings in the city.

The shelter is part of the city’s plan to create 90 new shelters across the five boroughs, and the plans for the West 58th Street location came to light last week in letters to local politicians.

Mayor Bill de Blasio announced his “Turning the Tide on Homelessness” program last year and said neighbors would get a minimum of 30 days’ notice before a new shelter opened. He also said officials would take reasonable concerns and input from the community into account.

Rob Iola wrote:I'll state the obvious - the city could sell that property and with the proceeds build a Taj Mahal shelter for 10 times the number of residents in a less pricey neighborhood.

CAA Flagship wrote:

Rob Iola wrote:I'll state the obvious - the city could sell that property and with the proceeds build a Taj Mahal shelter for 10 times the number of residents in a less pricey neighborhood.

No. Much better this way. Property values will drop within each impact zone and the City will get less tax revenue. It's brilliant. What's a few hobos between neighbors?

Rob Iola wrote:I'll state the obvious - the city could sell that property and with the proceeds build a Taj Mahal shelter for 10 times the number of residents in a less pricey neighborhood.

Chizzang wrote:

CAA Flagship wrote: No. Much better this way. Property values will drop within each impact zone and the City will get less tax revenue. It's brilliant. What's a few hobos between neighbors?

You said:
Property values will drop... in Midtown Manhattan

That's funny

Chizzang wrote:

CAA Flagship wrote: No. Much better this way. Property values will drop within each impact zone and the City will get less tax revenue. It's brilliant. What's a few hobos between neighbors?

You said:
Property values will drop... in Midtown Manhattan

That's funny

BDKJMU wrote:

Chizzang wrote:


You said:
Property values will drop... in Midtown Manhattan

That's funny

Yep. Attaching homeless shelters to super high end properties will not cause their values to drop at all.. ..

Chizzang wrote:

BDKJMU wrote:
Yep. Attaching homeless shelters to super high end properties will not cause their values to drop at all.. ..

Sometimes it's cute how dumb you are
You don't really know anything about Manhattan, do you?

For the past 85 or so years Manhattan has been (some of) the most sought after real estate in the world
Let that sink in... "In the world"

There are global corporations that wait years for suites and floors of midtown buildings to become available
In many cases paying an annual fee just to hold their spot in line



So... Take a close look at the piece of property in question
and this time next year it will be worth more than it is today
in this time in two years it will be worth more than that again - and again - and again

Chizzang wrote:

BDKJMU wrote:
Yep. Attaching homeless shelters to super high end properties will not cause their values to drop at all.. ..

Sometimes it's cute how dumb you are
You don't really know anything about Manhattan, do you?

For the past 85 or so years Manhattan has been (some of) the most sought after real estate in the world
Let that sink in... "In the world"

There are global corporations that wait years for suites and floors of midtown buildings to become available
In many cases paying an annual fee just to hold their spot in line



So... Take a close look at the piece of property in question
and this time next year it will be worth more than it is today
in this time in two years it will be worth more than that again - and again - and again

BDKJMU wrote:

Chizzang wrote:
Sometimes it's cute how dumb you are
You don't really know anything about Manhattan, do you?

For the past 85 or so years Manhattan has been (some of) the most sought after real estate in the world
Let that sink in... "In the world"

There are global corporations that wait years for suites and floors of midtown buildings to become available
In many cases paying an annual fee just to hold their spot in line



So... Take a close look at the piece of property in question
and this time next year it will be worth more than it is today
in this time in two years it will be worth more than that again - and again - and again

Claiming attaching homeless shelters will have zero effect on the said properties values is silly. Whatever the properties are worth, or will rise to, they will be worth even more, or rise faster, without the homeless shelters attached.

Chizzang wrote:

CAA Flagship wrote: No. Much better this way. Property values will drop within each impact zone and the City will get less tax revenue. It's brilliant. What's a few hobos between neighbors?

You said:
Property values will drop... in Midtown Manhattan

That's funny

Chizzang wrote:

BDKJMU wrote:
Yep. Attaching homeless shelters to super high end properties will not cause their values to drop at all.. ..

Sometimes it's cute how dumb you are
You don't really know anything about Manhattan, do you?

For the past 85 or so years Manhattan has been (some of) the most sought after real estate in the world
Let that sink in... "In the world"

There are global corporations that wait years for suites and floors of midtown buildings to become available
In many cases paying an annual fee just to hold their spot in line



So... Take a close look at the piece of property in question
and this time next year it will be worth more than it is today
in this time in two years it will be worth more than that again - and again - and again

Col Hogan wrote:Rich NIMBY’s