Cozen O’Connor: Does Living Near An Above-Ground Train Equal Cheaper Housing? Not So Much

Does Living Near An Above-Ground Train Equal Cheaper Housing? Not So Much

Tuesday, August 2, 2016

Ken Fisher, a member of Cozen O’Connor’s Real Estate Practice Group, discusses the effect above-ground trains have on apartment prices on BrickUnderground.com. While proximity to a noisy train station traditionally diminished rental prices, Ken explains that the high demand for housing in New York City no longer constitutes a deal breaker. Ken says, “If you look back at any movie set in New York before the 2000s, they’d have a train running outside the windows as an easily identifiable marker for living in a lousy neighborhood. It was almost an iconic symbol of either a stressful situation, or a family struggling with poverty. I think the demand of the city has erased that a little bit.” Because potential buyers and renters move through apartments quickly, Ken notes that, “A lot of people hunting for apartments might not be exposed to the noise long enough while they’re looking to really understand the impact until they move in.”


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Kenneth K. Fisher

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kfisher@cozen.com

(212) 883-4962

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