NEW YORK CITY-Though many in the industry appreciate the stories behind New York City's aging building stock, one industry organization is, saying the city has gone too far with landmarking and, as a result, is causing more harm than good with the practice.
Nearly 30% of Manhattan properties are now protected by regulations governing landmarks, according to new research by REBNY, released Thursday. Protection of that many structures will stifle job creation and important economic development initiatives, increase the cost of living in New York, and further homogenize much of the borough's neighborhoods, an announcement of the research states.
A total of 11,857—or 27.7%—of Manhattan properties are designated landmarks, according to REBNY's research. In some Manhattan neighborhoods, such as the Upper West Side and SoHo/Greenwich Village, the level of protected properties has reached a staggering 70%
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
