New York City's hotel boom continues to ruin everything as their rampant construction in formerly industrial areas like Greenpoint, Williamsburg, and Long Island City is pushing out the many small businesses that have existed there for decades. Via Crain's: "The hotel growth influences how property owners 'set their price and expectations for their own property,' said Adam Friedman, Pratt's executive director. 'It has a destabilizing effect on the real estate market.'" [Crain's; previously]
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