As a long term investment everything changes... Right now 2nd ave property is among the lowest priced in the city per sqft. If you are intending to hold the property for the long hall I would advise to do so. Property values will explode in the years after the subway system is completed so as a long term investment this decision could be mint. I have a bunch of buyers tool that you may be able to utilize in your search and I am willing to help no strings attached. Call me with any questions. 646.406.4216 at anytime
Did you know that the plan of the 2nd avenue subway was started in 1920? And up to this day it has not been completed. Check out the time line on this link:
I suggest a different location for you investment. You can call or e-mail me to discuss.
If you need more assistance, le me know.
The long term plan is for the SAS to stretch from 125th Street to Hanover Square downtown. The plan includes a third phase which projects a new subway station on Second Avenue and 55th Street. The proposed station would allow transfers to existing 6, V and E services. If funding is available, and at the moment it's a big if, there would be a tremendous impact on the local housing market but this will be a minimum of ten years down the track and probably much longer!
In the immediate term, the new Whole Foods store which is now scheduled to open in August 2012, will have a very positive effect on the desirability of this area.
Licensed real estae salesperson
Prudential Douglas Elliman
575 Madison Avenue
New York, NY 10022
Ph: 212 -303-5242
Although if you purchase out to York Ave, this is where I predict that the values will go up because of the space offered. Currently this is where you get the most bang for your buck in terms of space, plus you have the quiet tranquility that the city is not known for. But when this subway is up and running, you will be much closer to transportation with the space values offered further out East.
SVP/ Associate Broker
Rutenberg Realty NYC
Ralph Modica, Sales Associate
127 Seventh Avenue
New York, NY 10011
Licensed Real Estate Salesperson
Member of Real Estate Board of New York
Halstead Property, LLC
646.472.7875 confidential fax
770 Lexington Avenue, 10th Floor
New York, NY 10065
The 2nd avenue subway is not next the 57th st. This construction will be above 63rd Street Line
and 96th Street and 2nd Avenue. So as far as you are concerned, it will not affect your purchase or your sale.
VP Ass Broker