The Charlton-King Vandam historic district in Greenwich Village. (Wiki)
Real Estate

Manhattan Historic Districts See Meager Relative Value Appreciation, Report Finds

Within 250 feet of a historic district, the report found, the value of properties increases after the designation takes effect relative to properties further from the district. This trend did not surprise the authors, gelling as it does with their view that such properties enjoy many of the benefits of historic designation without suffering restrictions on new development. The report likewise suggests that on average, citywide, even homes within historic districts grow relatively in value vis-a-vis those beyond district lines. The buck—both real and proverbial—stops, however, in Manhattan, according to the report. In the city’s most expensive borough, which is home to 60 percent of our 111 historic districts, properties within historic districts see no such superior growth.

Read More