The abandonment of New York City
http://www.axios.com/new-york-city-abandoned-378fc5d8-9af4-447b-8e7e-df1b27da50e5.html
Aug 23, 2020
Suddenly, the city that never sleeps is starting to feel eerily sleepy. Apartment vacancies are at a record high, more than 1,200 restaurants have closed, and Wall Street bigwigs are doing their jobs from Greenwich or the Hamptons.
Why it matters: New York City is a success story in beating back COVID-19, but many of its wealthiest and most successful residents have fled, some of them never to return.
Driving the news: While the city typically empties out in August, with well-heeled New Yorkers taking vacations or moving to their second homes, this time feels different:
So many people are fleeing the city permanently that overworked moving companies are "turning people away," per NYT.
Early in the pandemic, people were trying to escape COVID-19. More recently, reasons include permanent work-from-anywhere arrangements, the prospect of safer in-person schools outside the city, and fear of looting and gun violence.
The impact: There are more than 13,000 empty apartments in Manhattan, and landlords are offering unheard-of discounts.
The Metropolitan Transportation Authority is destitute, and ridership is in a tailspin — despite the fact that subway cars are unnaturally gleaming.
In an echo of the 1970s, homelessness, violent crime and urban blight are on the rise.
The Empire State Building is suffering as tenants evacuate and tourists stay away.
Hamilton, Shmamilton: Broadway is shut down through at least January.
“There’s no reason to do business in New York,”
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Mad Poet Strikes Again.
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