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Its hard for me to be clear on the relationship of subway access and desirability of rental markets from looking at RE sites - too many confounding variables.
I would expect that there is not only a premium for being closer to a subway stop, but for being closer to ones with better access. Ergo, the areas in downtown Bklyn with stops on multiple lines, which proceed directly to lower manhattan, and then express to midtown, should be particularly valuable. Maybe less for the L train, which requires a transfer for the major employment centers in downtown and midtown? And even less for places convenient only to the G train, which means a transfer to get anywhere in Manhattan?
Do all of these matter less than I think, because of proclivity to bike to work, to work online, etc?
Please discuss - for comparibility use 1 BR units in new buildings without water views, to keep things roughly consistent, if possible.
Its hard for me to be clear on the relationship of subway access and desirability of rental markets from looking at RE sites - too many confounding variables.
I would expect that there is not only a premium for being closer to a subway stop, but for being closer to ones with better access. Ergo, the areas in downtown Bklyn with stops on multiple lines, which proceed directly to lower manhattan, and then express to midtown, should be particularly valuable. Maybe less for the L train, which requires a transfer for the major employment centers in downtown and midtown? And even less for places convenient only to the G train, which means a transfer to get anywhere in Manhattan?
Do all of these matter less than I think, because of proclivity to bike to work, to work online, etc?
Please discuss - for comparibility use 1 BR units in new buildings without water views, to keep things roughly consistent, if possible.
They matter if you buy into the freaking Transplant "Construct"!!
Natives do not think like Transplants. Normal people do not.
For many non transplants, other factors are import, such as quality and liveability. Being too near a subway can mean crowds, dirt, NOISE, and a hectic environment. Conversely, this is precisely what Transplants crave.
Jfyi, Transplants have an OVER EMPHASIS upon commute time, the subway, and rents in relation to such (a transplant construct).
They matter if you buy into the freaking Transplant "Construct"!!
Natives do not think like Transplants. Normal people do not.
For many non transplants, other factors are import, such as quality and liveability. Being too near a subway can mean crowds, dirt, NOISE, and a hectic environment. Conversely, this is precisely what Transplants crave.
Jfyi, Transplants have an OVER EMPHASIS upon commute time, the subway, and rents in relation to such (a transplant construct).
I grew up in NYC, and I dont think anyone was totally unconcerned about commute time (which tends to impact RE almost everywhere). They may have been less keen on the subway in those days, when crime and graffitti were worse.
Anyway, Im not interested in people's personal value judgements, but in their sense of how the market works.
Real New Yorkers don't mind walking 20 minutes to the subway each way, every day, through downpours and blizzards and withering heat.
Only transplants, with their incomprehensible middle American values, are bothered by this. A real New Yorker would never pay a penny more to live closer to a train.
Real New Yorkers don't mind walking 20 minutes to the subway each way, every day, through downpours and blizzards and withering heat.
Only transplants, with their incomprehensible middle American values, are bothered by this. A real New Yorker would never pay a penny more to live closer to a train.
In which case, real New Yorkers would then bucking the trend for much of the rest of humanity since with all things being equal neighborhoods of cities around the world closer to transit lines/shorter commutes to central business districts generally have more expensive real estate.
In which case, real New Yorkers would then bucking the trend for much of the rest of humanity since with all things being equal neighborhoods of cities around the world closer to transit lines/shorter commutes to central business districts generally have more expensive real estate.
There has always been and forever will be a direct relationship between rents in NYC and proximity to subway stops and commuting times to midtown.It is why Yorkville has the lowest rents South of 96th st,it is why a great neighborhood like Bay Ridge is so "affordable" and it is why the higher rent construct has already begun to take shape along the 2nd avenue subway line.It is very important to most NY'ers whether they are natives or transplants
Broadway Junction has great subway access with the J/Z, L, A/C and the LIRR.
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