Second Ave. Condo Prices Soar in Anticipation of Coming Subway, Study Says

July 24, 2024 | John Mudd

(DNAINFO) Shaye Weaver | November 13, 2015 — Prices for apartments along Second Avenue are rising as the new subway nears completion, real estate analysts say.

The average price for an apartment within a one-block radius of the upcoming Second Avenue subway — which is expected to make stops at 96th, 86th and 72nd streets — is 34 percent higher than the rest of the units east of Third Avenue on the Upper East Side, according to a recent report by CityRealty, which used area sale data dating back to 2005.

The report looked at sales of 362 co-op condo buildings east of Third Avenue, north of East 59th Street and south of East 96th Street, and found the average price of homes there to be roughly $941,000. While condo units directly surrounding the stops are going for an average of about $1.3 million, the report shows.

Source: Second Ave. Condo Prices Soar in Anticipation of Coming Subway, Study Says – Yorkville – DNAinfo.com New York

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