NYC-WTC_000187725

NYC 9/11 Public Portal Document w* ts

73 distance variable (WDST) is extremely insignificant, suggesting that the effect of distance may be zero. The land value gradient for open cut or surface service is expressed as: I RATLSP_A3^,q = 0.192084 + 0.090795(WDST) + 0.228779(ADW) (.4334) (.0661) - 0.120249(WDP) - 0.272916(POVERTY) (.2674) (.3805) + 0.001128(EMP) + 2.380628(MIDTM) (.9940) (.0001) - 1.372995(DNTM) - 0.236651(CRIMEjape) (.0012) (.1987) R^ = 0.1110

As Figure 3.3 shows, at 400 meters or one quarter mile from a transit station, the value of subway accessible land is $71 less per square foot than at the station, and the value of elevated accessible land is $29 less per square foot, while the value of open cut accessible land is as much as $37 more per square foot of land one quarter mile distant from a transit station. Coefficients of some independent variables in the regression equations stratified by tunnel, elevated and surface structures contain signs contrary to general expectation. In particular, of note, is the positive relationship to distance to parks for tunnel service, and to distance to Midtown Manhattan for elevated and open cut service. Type of Transit Service Where transit access is provided by local, express, interline transfer, or terminal service at the station, the land value gradient measured by walking distance from j the station declines more steeply for the express/transfer/terminal ! than for the local type of service. The land value gradient for ■ the consolidated express/transfer/terminal type service is expressed as:

RATLSP_Ai,EIT 8.051727 - 0.548736(WDST) - 0.201449(ADW) (.0001) (.0013) - 0.109473(WDP) - 1.084045(POVERTY) (.0889) (.0001) + 0.290291(EMP) - 0.462890(MIDTM) (.0002) (.0032) - O-. 152029 (DNTM) - 0.079291 (CRIME rape) (.2516)

r2 = 0.2961 (.3737) r As Figure 3.4 shows, the slope of land value over distance from a transit station with local service is flatter than the slope

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