Why is soho so expensive

Yesterday, it was Greenwich Village killing off new housing; today, it's Bushwick; tomorrow, it's distant Inwood, way the hell uptown at th Street. But banning new development doesn't actually help that much. I should know - I'm from San Francisco. Because New York is a global city with lots of well-paying jobs. And if a family pulls down a quarter-million dollars a year, and wants to buy an apartment, they'll buy one. The only question is where. Let's game this out.

We'll assume that our wealthy family wants to buy a 3-bedroom unit - the kind of thing that most upper-class families can easily afford in Houston or Chicago. If you go on Zillow, there's diddly-squat in your price range in the obvious places for rich urbanites, like Greenwich Village or Soho. So what does our family do? I think we all know what their options are. They might "discover" a traditionally black neighborhood like Bed-Stuy and become gentrifiers.

They might cram into an undersized apartment in a fashionable part of Manhattan. They might leave for the blandness and mediocrity of the suburbs. Or, they might leave New York entirely - and New York loses the family's ties, talents, and tax revenues. All of these options suck. But it wasn't always this way. If you'll hop in the DeLorean with me, I'll show you what the real estate market was like when NYC actually built enough new housing for everyone.

We'll peruse the classified ads from the Brooklyn Daily Eagle, January 4th, All figures are adjusted for inflation. I've chosen Bay Ridge because the neighborhood was, and is, stable, white and middle-class, neither unfashionable nor fashionable, so it's a useful control group.

On Page 17 of the Eagle, you'll see an ad for the brand-new, pretentiously-named Leonardo Plaza on Marine Ave and 96th , a couple blocks from 95th St station on the R train.

The cost? A new StreetEasy report found that streets like Greenwich and Greene in Soho are among the most expensive for rentals. New York City rents have reached record highs in recent years, but there are certain neighborhoods and streets in the city—well, Manhattan—where rents are ridiculously high. In a new report , StreetEasy looked at where, exactly, the most expensive blocks in the borough are located, using its Rent Score tool, which ranks NYC rental buildings from least to most expensive.

Cookie banner We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. Soho has also been reused in Hong Kong. Follow myldn. By the end of the gentrification of Soho had reduced the number of flats used for prostitution to around 40, it has since reduced to about a dozen walk-ups.

Nevertheless, the area remains a red-light district and prostitution still takes place in walk-ups. They typically have fewer than 10 employees. SOHO routers are designed to deliver wired and wireless broadband network routing.