Who Owns New York? It's Complicated (and Kind of Hilarious)
So, you've probably heard the phrase "New York, New York – a concrete jungle where dreams are made of." But who actually owns this concrete jungle? Let's dive into the wild world of New York City real estate.
Columbia: The Unlikely Land Baron
You'd think it would be some billionaire tycoon or a shadowy corporation, right? Wrong! The biggest landowner in New York City is actually Columbia University. Yep, that place where they teach you stuff and you end up with a mountain of debt. Who would have thought they'd be hoarding property like Smaug hoarding gold?
It's not like they're building a fortress around the campus or anything. They own a whopping 209 properties spread across the city. That's more than twice the number of properties owned by their closest competitor, NYU. It's like Columbia is playing Monopoly and everyone else is still on Free Parking.
So, How Did This Happen?
Good question. It's a long and convoluted story involving tax breaks, historical land grants, and probably a bit of luck. Basically, Columbia has been around for a really long time, and they've been pretty good at holding onto their stuff. Plus, being a non-profit means they don't have to pay property taxes on most of their buildings. It's like a real-life cheat code.
But Wait, There's More!
While Columbia takes the crown for the most properties, the Riverbay Corporation actually owns the most land. They manage Co-op City in the Bronx, which is basically a city within a city. It's so big that if it were its own municipality, it would be the tenth largest in New York State. Talk about a land grab!
The Real Estate Wild West
So, there you have it. The next time you're strolling through Central Park, just remember, you're walking on Columbia's land. And if you happen to find yourself in Co-op City, you're in Riverbay territory. It's a wild world out there.
How to Become a New York Land Baron (Probably Not)
- How to buy up half of Manhattan: Start saving now, and maybe consider robbing a bank (just kidding, don’t do that).
- How to get tax breaks like Columbia: Become a non-profit university with a really long history.
- How to build a city within a city: Find a really big plot of land and convince a lot of people to move in.
- How to deal with the high cost of living in NYC: Win the lottery, inherit a fortune, or learn to be really happy with a small apartment.
- How to survive the concrete jungle: Develop a thick skin, a love for pizza, and a strong sense of humor.