March 3, 2017
Why are home prices rising so quickly in neighborhoods like Downtown Brooklyn, Long Island City, the South Bronx and Sunset Park? A clever mapping tool from Sidewalk Labs can draw the answer in seconds.
The map shows travel times, speeding through transit options to show how long it takes to get anywhere in New York City. Visitors to the map can also adjust the settings to see how commutes will be lengthened when the L train closes for 18 months in 2019 for extended repairs.
The map has a tremendous power to explain new development and rising property values: Just drop a pin on the map in Midtown and look at the travel times. Other factors, such as safety and the quality of the housing stock, make a difference when it comes to housing. But as the city becomes safer and developers show their willing to transform the landscape, transit become more important.
For comments, questions or concerns, please contact Bendix Anderson