A shocking new report from the Wall Street Journal shows New York City’s current real estate crisis is far “worse than 9/11” or the ‘Great Recession’ of 2008-2009; confirming “high-end and wealthy” residents have left the city in droves.
“In the West Chelsea district, a recently built ultra high-end boutique condominium known as the Getty slashed prices for its remaining units by as much as 46%. One full-floor, four-bedroom apartment at the Peter Marino-designed building was lowered to $10.475 million from $19.5 million,” reports the Journal.
“The numbers are unprecedented. Between March 23 and August 16, sales of Manhattan homes were off 56% year-over-year, according to UrbanDigs, a real-estate data site. For properties priced at $4 million or above, sales were down about 67%,” adds the WSJ.
“Calling people now, it could be like calling them after shiva or after a funeral,” one insider said. “You don’t know who died or how people were affected by the situation. Maybe their client didn’t take a salary this year.”
Read the full report at the Wall Street Journal.
NYC SPIRALS: 112 Injured By Gunfire in 9 Days, Local Says ‘Haven’t Seen Anything Like This in My Life’
Violence and gunfire continued to plague New York City since anti-police protests started back in June, with authorities confirming more than 100 people have been shot in the last 9 days.
“There have been 112 victims in 83 shootings over a nine-day period ending Saturday, according to police. Most of those shot were expected to survive, but at least six people have died in the past week and others suffered serious or critical injuries,” reports 1010Wins.
The NYPD on Sunday released this info detailing the nine-day stretch of shootings.
Friday, 6/19 – 8 shooting incidents with 9 victims.
Saturday, 6/20 -18 shooting incidents with 24 victims.
Sunday, 6/21 – 2 shooting incidents with 5 victims.
Monday, 6/22 – 11 shooting incidents with 17 victims.
Tuesday, 6/23 – 10 shooting incidents with 10 victims.
Wednesday, 6/24 – 3 shooting incidents with 5 victims.
Thursday, 6/25 – 5 shooting incidents with 8 victims.
Friday, 06/26 – 9 incidents with 10 victims.
Saturday, 06/27 – 17 incidents with 24 victims.
“It has just been ridiculous how it has taken place, because we saw a serious decline over a five year period and we have working relationships to work with our police department with their community policing,” said one local leader in Brooklyn. “Now look at what we’re faced with. I have not seen anything like this in my entire life living here in New York.”
Read the full report here.
NYC SPIRALS: 7 People Shot in 10 MINUTES in Separate Brooklyn Shootings
New York City continued to struggle with an uptick in gun crime in the wake of anti-police protests in all five boroughs, with seven people shot within 10 minutes in separate incidents in Brooklyn.
“Seven people were wounded in three shootings just 10 minutes apart Monday night in different Brooklyn neighborhoods,” reports the NY Post. “The gunplay started at about 10:40 p.m. on Bainbridge Street near Malcolm X Boulevard in Bedford-Stuyvesant.”
“I could see she was breathing, but she wasn’t moving,” said one eyewitness.
“The city reported 40 shootings last week — the most in a week since 2015. In the same time period in 2019, there were 24 shootings,” adds the Post.
This is a developing story. Check back for updates.
Source: NY Post