In Mayor Bill De Blasio’s New York, not even celebrities can make a dime on the real estate market as city dwellers flee in droves for the suburbs in the wake of surging crime.
Oscar-winner Jennifer Lawrence has reportedly sold her Upper East Side penthouse at a $5.7 million loss, receiving $9.9 million after shelling out $15.6 million for the three-bedroom unit in 2016. Her losses are likely even steeper when factoring in closing costs and other expenses.
New York’s Upper East Side has experienced a surge in crime in recent weeks. As Breitbart News reported, the NYPD’s 19th Precinct has reported a 286 percent increase in robberies over the course of the the last month, versus the same period in 2019.
As of August 3, the precinct reported 14 gunpoint robberies so far this year. Last year, the neighborhood only saw four.
Crime has soared throughout New York since Mayor Bill De Blasio (D) took a permissive approach to the Black Lives Matter protests, allowing people to riot in the streets while caving to far-left activists who demanded the defunding of the police.
De Blasio’s administration has stripped the NYPD of $1 billion in funding, leading to a loss in morale among the city’s rank-and-file officers. For July, the city saw a 50 percent surge in murders, according to a report this week from New York’s NBC 4.
As a result, people are abandoning the city. Rents have plummeted throughout the city as vacancy rates have reportedly risen to their highest level in 14 years. And on Monday, ,New York Gov. Andrew Cuomo (D) explained how he’s resorted to begging wealthy residents who fled the city for the Hamptons during the coronavirus pandemic to return and join him for dinner.
“I literally talk to people all day long who are now in their Hamptons house who also lived here, or in their Hudson Valley house, or in their Connecticut weekend house, and I say, ‘You got to come back! We’ll go to dinner! I’ll buy you a drink! Come over, I’ll cook!’” Cuomo said.
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com
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