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by steveBK123
767 days ago
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It is a policy problem. There was an OddLots podcast on the topic of NYC CRE to Resi conversions a while ago. One issue is theres longstanding zoning laws on conversions that limit what can be converted based on year of construction. The year doesn't automatically move forward annually so a new law has to be passed to adjust it otherwise it remains stuck at 1965 or something like that. |
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