The draft riots killed what? 2k? More?
NY bounces back. Always.
It is riots in all fve boroughs at once.
It isn't the riots in themselves that will sink the city.
It will be the bankrupcies. Steinway Tower may be going completely belly up. There are rumblings of deep issues at Hudson Yards. Equinox and several other anchor tenants have stopped paying their rents. If Louis Vuitton's agreement changes (they are the anchor tenant that sets the rent for a huge stretch of 5th Ave, the whole neighborhood is fucked.
MTA ridership is down 95%. If the MTA bonds get into trouble we have MAJOR FUCKING PROBLEMS. The MTA is the largest issuer of municipal debt in the country.
Large employers that bring in thousands of comuters daily, such as Goldman Sachs, Citi, and BNY/Pershing are discussing dispersing segments of their workforce away from NYC, and creating buckets of departments that will operate remotely.
My firm and most others in midtown east are likely going to offer remote capability to anyone who wants it. A severe reduction in daily commuter population would be disastrous acrosss the board for everything from bodegas to high end corporate real estate.