We are looking for someone to help us update an analysis first undertaken by the New York City Independent Budget Office in a Background Paper – The Impact of Historic Districts on Residential Property Values, 1975 through 2002.
If you think you are up for the challenge please contact Donald Brennan via email or on his cell at 917-568-6525. Data set definition and methodology are explained in the study, which can be found here. Compensation is negotiable.
flickr/beanhead4529
As the debate over potentially enlarging the boundaries of the Carroll Gardens historic district intensifies, I went back to the NYC IBO’s 2003 study, The Impact of Historic Districts on Residential Property Values, to refresh my memory on whether or not historic districts have constrained the appreciation in residential property values.
The answer is NO.
So if property values are not constrained, how does one make the argument that it is more expensive to maintain a property in a landmark district? How could it be more expensive if your long term appreciation is greater than that of a comparable property outside of a landmark district?
The impact of any improvement will result in a positive return on that particular capital investment. So in actuality, making improvements or maintaining property that is located inside of landmark districts is less expensive than for comparable property outside of a landmark district.
So what am I missing? What is the other side of this argument? Is it more about emotion or is there some sort of rational explanation about how landmarking makes improving property more expensive? Numbers would be helpful. Someone please enlighten me.
Are you thinking of buying, selling, renting or renovating your Brooklyn home? Then attend “Let’s talk real estate, Brooklyn style, in my home” for an informal discussion over coffee, the third Tuesday of every month.
Donald Brennan, experienced brownstone Brooklyn pro, will welcome you into his renovated Brooklyn Heights townhouse and give you an insider’s perspective about what’s really going on in today’s real estate market, plus he’ll answer your specific questions.
Date: Tuesday, August 17
Time: 8 a.m. – 9 a.m.
Location: 26 Remsen Street, Brooklyn Heights
At this unique gathering, Brennan will share his in-depth understanding of real estate Brooklyn-style—brownstones, townhouses and other multi-family properties in landmark Brooklyn districts—that will help you maximize the value of your real estate investment.
While you’ll drive the agenda for this informal chat, some of the topics you may learn about include:
So please join us the third Tuesday of every month, starting August 17. And remember to bring your most pressing real estate questions!
To RSVP please contact Betsy Hoffman
email or phone: 917-622-3879
Remember to let us know what you’d like to discuss!
Admission is complimentary.
No brokers, please.
Presented by Brennan Realty Services.
Brennan Realty Services is a licensed real estate brokerage in New York.
Let’s Talk Real Estate, Brooklyn Style, on August 17
If you need a more visual invitation to our monthly real estate seminar, please watch our short video above. We’re looking forward to having coffee with you on August 17th and chatting about buying, selling and renovating real estate in Brooklyn…and showing you one of the finest examples of our work. Space is limited, so click here to register.
Posted in blog | Tagged brooklyn real estate market, real estate seminars