They Don’t Make ‘em They Used to….

According to a recent deep-dive investigation by Gothamist, the reality inside select new developments is far from glamorous. In fact, many tenants paying top-dollar rents are finding themselves in buildings that are literally falling apart just months after opening.

Gothamist analyzed city records and found a startling trend: nearly 10% of residential buildings opened since 2016 have housing code violation rates significantly higher than the citywide average. We aren't just talking about a chipped tile here or there—we're talking about chronic, systemic failures.

Experts and architects point to a "perfect storm" of industry pressures that have turned modern construction into a race to the bottom:

• Cutting Corners: Developers are facing skyrocketing material costs and interest rates. To keep profits high, many are opting for the cheapest possible materials and non-union labor.

• The "Skin-Deep" Luxury Strategy: Developers invest heavily in a "wow-factor" lobby and a rooftop gym to lure renters in, while the actual guts of the building—the plumbing, wiring, and insulation—are neglected.

In New York City, the term "luxury" has officially become a marketing buzzword rather than a standard of quality. For renters, the message is clear: Do your homework.

*** Source: Gothamist - ‘Crappy luxury’: Inside NYC’s brand new apartment buildings that are falling apart