News
How To Boost Greenpoint Multifamily Values 25%
March 5, 2013
There's one thing Queens and Brooklyn denizens agree on: "Avoid the G train." But David Behin of MNS tells us a more reliable and accessible G could increase Greenpoint residential values by 25%.
Investors pay $150/SF in Greenpoint, $100 less than two miles away in Williamsburg, he says. Now that Greenpoint has been rezoned to encourage residential, all that's left to improve quality of life, drive growth, and give investors and lenders confidence is to turn the G into gold.
Hey, MTA showed it can hike fares on the G train--which we snapped--and all other trains, so why not hike values on the neighborhood it serves? Three of David's suggestions:
- Add Manhattan Avenue stops at Green and Box streets.
- Allow free above-ground transfers between the G's Broadway stop and the Hewes and Lorimer J and M stops.
- Make the train longer than four cars.
