NYC-WTC_000187725

NYC 9/11 Public Portal Document

1 60 - average annual passenger entries, 1986, 1987 - inbound trains stopping in peak morning frequency (7:30-8:30 a.m.) - outbound trains stopping in peak evening frequency - volume of trains in one direction in 24 hour period - crowding (square feet per passenger) on trains in peak morning frequency - percent of new cars in trains, 1986 - percent of rehabilitated cars in trains, 1986 - percent trains on time, 1986, 1987 - percent change in on-time performance, 1986-1987 - miles to Midtown centroid (Sixth Ave. and 42th St.) - miles to Downtown centroid (Wall and Broadway Sts.) - transit minutes to Midtown centroid - transit minutes to Downtown centroid Transit access characteristics were obtained by station from the MTA. I ■ After all data sets were appended to the representative sample of 18,650 parcels stratified by six building classes, the record for any single parcel recently sold contained over 60 variables, as previously described including its block and lot identifiers. Data Outputs On the output side, NYSTA produces the following results: I o As the dependent variable, variation in land value per square foot by distance from a rapid transit station, for the following land use types: - vacant land - one and two family dwellings - walk-up apartments - elevator apartments - office buildings - store buildings For vacant land parcels, or developed parcels purchased for redevelopment purposes, the land value was taken as the market price. For developed land in residential and commercial use, the land value was derived from the market sales value by applying each parcel’s respective portion of assessed land value in total assessed value to the market price. When accuracy of assessment practices regarding land is at issue, an alternative approach would include parcel size with the full market sales value, including land value, as an independent variable in the regression analysis. Differences in value attributable to year of sale were corrected by utilizing the consumer price index for the New York area. Here, again, an alternative approach would introduce a time variable into the regression equation, rather than deflate the sales price.

CITY_21MC100_006662291

NYC-WTC_000187791