"primarily benefited those who can afford to pay more than $3,775 per month for an apartment. For a household to be able to afford an apartment at this level without paying more than 30 percent of their income on housing, they would need to earn $151,000 a year — 58 percent more than the city’s median income for a family of four."
https://streeteasy.com/blog/nyc-rent...dability-2017/
There you have it; why all those "net effective median" or whatever rents at or > $3k per month.
All over the UES (and elsewhere) you see small armies of child minders with one or more children in tow. This and or the actual families themselves. Where you think they are all living?
Developers used include large numbers of studio or small one bedroom apartments in new buildings. Trend for years now has been the other way; few studios or even one bedrooms; but plenty of two and three bdrm units. Those larger apartments come with higher rents.
What is even more amazing is that all over UES, UWS, SoHo and elsewhere the legions of SAHM, which means one income is carrying that rent/entire family.
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