Pressure’s on Hell’s Kitchen long-timers

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Longtime Hell’s Kitchen residents are feeling the financial pressure from gentrification. The impetus to move out of the neighborhood, however, may be, for some, overwhelming. Once-shabby spreads that residents bought for just $250 in a city co-op program more than 20 years ago are, for instance, commanding asking prices of $300,000. Also, pricey new residential development dots the neighborhood, including four new high-rises along Eighth and 10th avenues. more [NYT]