More and more Manhattan apartment occupants are actually part-timers whose NYC pads are pied-a-terres or investment properties. The Times crunches some Census numbers (yum!) and finds that about 30 percent of apartments in the part of the East Side between Fifth and Park avenues and 49th and 70th Streets are empty for more than 10 months every year. Between 53rd and 59th Streets, more than half of the apartments remain vacant for that amount of time. One possible solution: a change in the tax definition of a permanent abode, leading to higher taxes on some of the secondary residences. [NYT]
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