I'm not sure it's Klein behind the condos so much as it is Moneybags. Look around the city these days and you'll see the mark Moneybags has put on it. Blocks and blocks have been torn down for luxury buildings.
Long Island City - luxury buildings.
The old Jets stadium sit on the West Side - luxury buildings and commercial buildings.
Up by Columbia - 17 acres of luxury buildings and an expanded Columbia.
Down on the Lower East Side along the Bowery - no more CBGB, lots of luxury buildings.
West of Lincoln Center - more luxury buildings with the logo TRUMP on 'em.
Atlantic Avenue - new stadium and lots of luxury buildings.
See a pattern?
I do - the billionaire real estate buddies of Mayor Moneybags and former Deputy Mayor Dan Doctoroff have made a ton of money having Moneybags and Deputy Dan rezone half the city for them and letting them knock down whole swaths to put up luxury apartment buildings.
And of course these luxury building owners will pay no taxes on their luxury buildings for at least 20 yrs - all they have to do is set aside a few apartments per building for "low income" people and their tax-free for the next generation!
Of course with commercial real estate values tanking and with high end real estate in Manhattan starting to tank and with a seriously nasty recession heading our way, Moneybags, Deputy Dan and their real estate buddies just may have overextended themselves.
Did you hear about Harry Macklowe, the real estate developer who borrowed $ 7.1 billion for eight buildings around the city (I think he put a total of $35 million down on the entire deal - the rest was borrowed)?
Well, that real estate he bought for $7.1 billion is now only worth $6.5 billion and he's already behind on two of his mortgages. Unless he can unload these buildings and come up with $600 million+ to cover his losses, he's going under.
Macklowe may be an early indication of what's going to happen to a few other Bloomberg cronies.
Merely a tax writeoff for my buddy Harry, who will have a prominent role in my administration when I am crowned - I mean elected Mayor. Never underestimate a billionaire, I always say.
Speaking of state data, anyone see on WNBC or NY1's website that the state has listed 320 NYC schools as being in need of improvement.Bloomie is spinning this like a he's at the wheel of a rearwheel drive Pontiac GTO trying to burn his way out of a snow drift.
Thefull list is on WNBC's site. Check it out to see where your school stands. Mine stands in need of improvement and I cannot imagine the hell we're gonna get tomorrow from the Boss. She'll be out of control.
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