The Subway Is Next Door. Should New Yorkers Pay Extra for That?

The article cites research by Giancarlo Falcocchio and Constantine Kontokosta, professors in the department of civil and urban engineering at the NYU Tandon School of Engineering.

... The notion that property owners should pay extra for their proximity to the subway is called “value capture” and has long been debated in urban planning circles. … In Manhattan’s main business corridors, from 60th Street south, the benefit of being near a subway adds $3.85 per square foot to the value of commercial property, according to calculations by two New York University [Tandon School of Engineering] economists.


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