Any impact of office vacancies on the overall value of NYC properties has been offset by the surge in single-family home prices last year—based on the city’s latest assessment, which projects a 6.1% increase in NYC property values for the fiscal year beginning in July.

According to a projection released this week by NYC’s Department of Finance, the city is setting a market value of $1.48 trillion for the estimated 1.1M properties in NYC. The citywide assessed values—the value of property for tax purposes—have been set at $287B, a 4.4% increase.

Jack Rogers


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