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Because investors are buying two-family houses and chopping them up into 5 or 6 mini apartments which are then rented to, not single persons which might be appropriate size-wise, but entire families.
Very apparent by the number of meters on the houses and the messy condition of the front yards.
it's already lower compared to better neighborhoods and even if it is a bad neighborhood it's still new york city. you can still extract value by buying the homes and collecting rent.
Because investors are buying two-family houses and chopping them up into 5 or 6 mini apartments which are then rented to, not single persons which might be appropriate size-wise, but entire families.
Very apparent by the number of meters on the houses and the messy condition of the front yards.
Case in point: Sunset Park.
Thats a quality of life violation. Have you called 311 to report this?
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Population in NYC still continues to grow, and it's still one of America's best cities (more of a testament to how bad most American cities are, not how good NYC is).
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