The Daily Dirt: NYC’s World Cup windfall is looking shaky
The World Cup is quickly approaching — but it’s so far unclear whether the tournament will be a boon for real estate. Early predictions from FIFA estimated the month-long soccer competition would yield more than $3 billion worth of economic activity in the New York City area, however The City reported that some city officials are now saying the expense of hosting could outweigh the earnings. Projections from Comptroller Mark Levine show the World Cup is expected to boost tax revenue by $55 million — a number his office expects to be offset by an additional $70 million in spending […]
This article originally appeared on The Real Deal. Click here to read the full story.
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