Infill Lots Disappearing In New York

"...Building a town house has its unique problems in New York: With no staging area for contractors and the need for expensive underpinning of the neighbor's foundations, prices can range from $500 to $1,500 per square foot. But the phenomenal rise of real estate prices and ability to flip even small properties (this, the town of million-dollar studios), it has become economically feasible to build on these empty parcels. With the city’s small infill lots being snapped up at unparalleled pace, the experience of walking in the city has been forever changed in a relatively short period of time."