The local paper for the Upper East Side
WEEK OF SEPTEMBER SEE CALDER RUN <P.12
21-27 2017
Residential real estate prices in Yorkville will likely continue to rise in response to the launch of the Second Avenue subway, one expert says. Photo: Shinya Suzuki, via flickr
YORKVILLE AND THE SUBWAY REAL ESTATE Even after the opening of the Second Avenue line, Yorkville’s aura of affordability remains — but for how long? BY MICHAEL GAROFALO
Within the Upper East Side real estate market, Yorkville, between 79th and 96th Streets east of Third Avenue, has long held a reputation as an enclave of relative affordability, especially in comparison to the tonier western stretches of the Silk Stocking District nearby. For years, the neighborhood’s range of housing options — including high-rise apartment complexes, prewar tenement buildings, co-ops and, increasingly in recent years, luxury condominium towers — has made it an attractive option for a diverse group of residents, particularly cost-conscious young families, retirees and recent college graduates willing to live a half-mile or further from the
Lexington Avenue subway for the tradeoff of lower prices. But with the opening of the Second Avenue subway earlier this year, one longstanding reason for Yorkville’s lower prices — its distance from the nearest subway line — has disappeared, fueling anxiety among some residents that the neighborhood’s improved accessibility will be accompanied by rent hikes. To an extent, the new subway’s impact on the neighborhood’s rental market could be felt even before the Second Avenue line officially opened on New Year’s Day. November 2016 analysis by the real estate website StreetEasy showed that rents along Second Avenue have increased 27 percent over the previous five years, as the subway neared completion. Rents on First and Third Avenues saw jumps of 19 and 14 percent, respectively, over the same period — increases that are likely attributable, at least in part, to market anticipation of the new line’s completion.
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Keith Powers (pointing) won the Democratic primary for the District 4 city council seat, currently held by term-limited Council Member Dan Garodnick (right). Photo: Keith Powers Campaign
POWERS LOOKS AHEAD AFTER PRIMARY WIN POLITICS Keith Powers triumphs in Democratic election for District 4 Council seat BY MICHAEL GAROFALO
Keith Powers emerged as the winner in last Tuesday’s Democratic primary election for the District 4 city council seat, finishing atop a crowded field of candidates to replace incumbent Council Member Dan Garodnick, who is unable to seek reelection due to term limits.
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Powers finished with 4,019 votes, outpacing second-place finisher Marti Speranza by a nearly two-to-one margin. Powers, a member of Community Board 6 who previously worked as a lobbyist and staffer to Assembly Member Jonathan Bing and Senator Liz Krueger, celebrated his victory at an election night party in Peter Cooper Village/Stuyvesant Town, where he grew up and still lives. The morning after the primary, Powers spoke with Garodnick, who had endorsed him a few days before the election. The incumbent’s message to his likely successor was “pretty simple,”
Powers said. “Be happy and go out and say thank you.” Powers took Garodnick’s advice to heart. “I walked around the neighborhood this morning just to say thank you to some folks,” he said. “It was really overwhelming.”
CONTINUED ON PAGE 18 Jewish women and girls light up the world by lighting the Shabbat candles every Friday evening 18 minutes before sunset from a pre existing flame. Friday, September 22 -6:35 pm For more information visit www.chabaduppereastside.com.
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