New NJ Transit Expected to Boost Property Prices

By GlobeSt News Portal

Print Email Share Reprints News Tip? Get Alerts

Disable this ad

Sign Up for the New York AM Alert

Join the thousands of real estate professionals that subscribe to the New York AM Alert. Each and every morning, we deliver the important stories, data, analysis…as well as the opinions and insights of industry thought leaders to provide you with market intelligence and a daily business advantage.

Become a registered member today and don’t miss another important story in the New York market. Let GlobeSt.com be your source for everything real estate.

NEW YORK CITY-According to a report by the Regional Plan Association, the $8.7 billion rail tunnel being built for the NJ Transit could raise the prices of property in the vicinity of the transit stations. The report states that the average rise would be of about $19,000, while those houses within a mile from the stations can expect a rise of $29,000.

Work on the tunnel between Manhattan and New Jersey is expected to be completed by 2018. For the full story, go to Wall Street Journal.

Categories: Northeast, Industrial, Development, Analysis, New York