Paulina Cachero

The Rise of the Manhattan Mega-Mansion In the West Village and other historic neighborhoods, buyers are consolidating apartments and combining townhomes, a sign of New York’s allure to the ultra-rich.

Debates over how to fix the city's housing crisis are largely framed as a race to build more supply.

But NYU's Ingrid Gould Ellen said, “We don’t talk about the removals from supply... Maybe we’re swimming upstream.”
www.bloomberg.com/graphics/202...

The double-wide is part of a broader housing consolidation wave. Wealthy buyers have also rolled up thousands of multi-family buildings into single-family homes.

In the West Village alone, one in six small multi-family building have been consolidated into one residence.

Bloomberg News identified 19 townhouse combinations since 2010, across what used to be 40 separate buildings.

More than half are in the West Village.

We could not have pulled this off without the whip-smart edits from @kristoncapps.bsky.social, data crunching from @agordon.me, amazing graphics from @mariepastora.bsky.social and @popovichn.bsky.social, and photo edits from Sophie Butcher.

More on our story below🧵👇

NYC’s newest billionaire status symbol: a double-wide townhouse.

Ultra-wealthy buyers are combining 2–3 historic townhomes into mega-mansions designed to feel like suburban estates — in the middle of the Manhattan.

Here's the latest with @sooophie.bsky.social www.bloomberg.com/graphics/202...

“A double-wide is like a Picasso or that Gustav Klimt that sold for $236 million. A suburban house in Manhattan, in the West Village? There’s not that many.”

@paulinacachero.bsky.social
@sooophie.bsky.social
@mariepastora.bsky.social
@agordon.me

www.bloomberg.com/graphics/202...

Even New York City’s Wealthy Renters Can’t Avoid The Housing Crisis In a city where roughly two out of three residents lease their homes, record-high rents have long bogged down the working class. But these days, more higher earners are feeling the squeeze: At least 6...

New York City’s worsening rent crisis – long the bane of the city’s working class – is now ensnaring an unlikely demographic: six-figure earners.

🏙️ Read my latest for
@business with my brilliant colleagues www.bloomberg.com/graphics/202...

Top Colleges Are Too Costly Even for Parents Making $300,000 Many families have incomes that are too high to qualify for meaningful aid but too low to afford to pay out of pocket.

An elite US college education is a stretch even for parents making $300,000. See how much you could pay — or save — at the top schools.

US Mortgage Rates Pushing Past 7% Signal Tough Road Ahead US homebuyers contending with the highest borrowing costs in eight months are seeing mortgage rates rise past a psychological barrier that risks complicating purchase decisions even more.

Rates for 30-year loans have crossed 7%, a key level that may keep the housing market in the doldrums for some time to come. www.bloomberg.com/news/article...

Douglas Elliman Pressed for Details on Alexander Brothers by DOJ Real estate brokerage Douglas Elliman Inc. is facing questions from the Justice Department over Oren and Tal Alexander, the former star agents arrested this month on charges of sex trafficking.

NEW for @bloombergnews.bsky.social : Real estate brokerage Douglas Elliman is facing questions from the Justice Department over Oren and Tal Alexander, the former star agents arrested this month on charges of sex trafficking.
www.bloomberg.com/news/article...