the city is not unaware of this. the popular regulatory trend is to require 20% of the units in those new luxe buildings to be rent-regulated. in some circumstances this leads to absurdities like a building having a separate "poor door" for the rent regulated folks.
development costs in NYC are sky high. most projects never get off the ground. the only ones that do are targeted for luxury segment because the economics basically requires million dollar condos for the developer to make any money from the build at all.
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