NYC-WTC_000187725

NYC 9/11 Public Portal Document

57 outliers sales (such as "sweetheart” sales of $1) , and missing data items. The adjusted transactions file numbered 90,000 parcels. Parcel Characteristics Physical and financial characteristics were attributed to the adjusted universe of sales parcels in the study area on a parcel­ specific basis, using the block and lot identifiers of sold parcels with the master file of 940,000 parcels of real property on file with New York City tax assessors. The following attributes were matched to each of the sold parcels: - final actual assessed value of land and improvements - final actual exemption value of land and improvements - change in final actual assessed value of land and improvements over previous year - lot frontage and depth in feet and inches - building frontage and depth in feet and inches - number of stories in building - number of buildings on parcel - number of units in structure - year built - corner lot - fire damage - abandonment status - tax class (implications for assessed-to-market ratio) - assessment protest - community district code - zip zone code - zoning code Input data were used to derive the following additional variables by computation or imputation: - gross sguare feet of parcel land area - gross sguare feet of structure floor area - permissible floor area (based on zoning) - land value of sales price (as vacant, or based upon the share of land to total assessed value) - land value per sguare foot of parcel land area by building class - percent annual increase in assessed value The master file of real property assessments and physical attributes was obtained from the New York City Department of Finance, Real Property Assessment Division (RPAD), for Fiscal Year 1988. The file contains over one hundred fields of parcel-specific data for 26 major building classes and more than two hundred minor classes, of which records were selected for all parcels in the adjusted transactions file. Editing the records for missing RPAD data reduced the size of the adjusted transactions file to 86,300 parcels with complete records.

CITY_21MC1OO_OO6662288

NYC-WTC_000187788