9 years ago
New York: Conspicuous Construction
From the pre-Revolutionary period until World War II, tenants in New York City were uniformly given three months’ notice of annual rent increases on February 1 (known as Rent Day). Many then sought cheaper deals, and when all leases expired on May 1 (called Moving Day) as many as a million residents changed houses in what amounted to a single mass migration. Lately there’s been another, more specialized real estate frenzy afoot in America’s largest city. Its most visible manifestations...
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