New York City’s price tag for a hotel room has risen to $2,311,827.
That’s nearly $4,000 more than the average price of a room in the city, according to a new report by the Center for Investigative Reporting (CIR).
According to CIR, the city’s median household income is $75,854, a far cry from the $83,000 average price tag of a hotel in the nation’s capital.
In a city that is more expensive for housing than many others in the country, that is an incredibly high price tag.
It comes as the city continues to struggle with the fallout from Hurricane Harvey, which devastated much of Texas and forced tens of thousands of people from their homes.
Many of those displaced by the storm have since been displaced from their home towns, and many have returned to rebuild their lives.
Many in the community say that it is not enough to just buy a room, it is a huge cost to live in the area.
“I can’t believe that this is even a $2 billion bill that I am going to have to pay,” resident and hotel operator Jessica Johnson told the New York Times.
The New York Daily News reports that the $2 million bill is a record for a single-family rental in the US.
The $2m bill is one of a number of bills in the $1.6 trillion bill that the city is expected to pay by year’s end.CIR obtained a draft bill that included an additional $1 million to pay for the cost of the “maintenance and improvements” on the hotel.
The other $2million will be paid by the city.
Cirrua said the city would continue to work to keep the hotel open, but it’s difficult to say whether the cost is worthwhile.
“The City of New York is already paying out tens of millions of dollars of legal settlements for wrongful deaths and property damage, and is already facing an onslaught of lawsuits from real estate developers, including some who have no intention of paying off the cost,” CIR’s Sarah Kustar wrote.
“It’s unclear whether the city will be able to maintain this luxury hotel on its current footprint, and its current property values.”
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