New York City has a serious affordable housing shortage, but thousands of low-cost units are sitting empty. It’s called warehousing and it gets people’s blood boiling.
In 2023, Mayor Adams stepped in with a solution: The city would pay property owners up to $25,000 to put the rent-stabilized apartments back on the market.
But two and a half years later, no one has taken the offer. Now the city is doubling the payment amount…