Mayor De Blasio plans to open homeless shelter in posh NYC neighborhood

12:24 PM ET Thu, 18 Jan 2018

CNBC's Contessa Brewer reports on New York City's decision to convert the Park Savoy hotel into a long term shelter house for 150 men on billionaire row. This is part of New York City Mayor Bill De Blasio's plan to create 90 shelters in five years throughout the city.