May 3, 5:35 pm
2nd Ave subway shakes up sales
A rendering of the new line
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The Real Deal - 2nd Ave subway shakes up sales
From the May issue: Now that the Second Avenue subway appears to be on track, developers and brokers are seeing a mixed impact on building sales and development site deals on the Upper East Side. MTA Chairman Peter Kalikow promised last month's groundbreaking at 99th Street and Second Avenue would be different from the previous false starts. But even before elected officials gathered for a photo in the tunnel, news of the impending new subway service has been ruining some long-term deals and encouraging others.
| Jill Stone | by www.therealdeal.net. All rights reserved. | 17.07 | 3:18 |
Optimists among the buyers and developers say they believe the new line will ultimately increase property values.
Read more on by www.therealdeal.net. All rights reserved.
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