L train services between Manhattan and Brooklyn are expected to shut down for at least 18 months in late 2017 to repair damages caused by Hurricane Sandy, and commuters who rely on the train to get to work might start looking for apartments elsewhere. NYC real estate professionals expect rents to diminish following demand in the neighborhoods along the L train line over the construction period, including Williamsburg and Bushwick. [graphiq id="gXyz6u392cd" title="Transportation in New York City" width="600" height="533" url="https://w.graphiq.com/w/gXyz6u392cd" link="http://places.findthehome.com/l/71121/New-York-City-NY" link_text="Transportation in New York City | FindTheHome"] Worst case scenario, the train could be out of service for three years, potentially causing rents to drop in those communities over a prolonged stretch. But that’s if the Metropolitan Transportation Authority decides to work on fixing one tunnel at a time versus a complete shutdown; no agenda ha...
- Worst case scenario, the train could be out of service for three years, potentially causing rents to drop in those communities over a prolonged stretch.
- The Canarsie Tube, which transmits the L train under the East River between Brooklyn and Manhattan, has about three miles of concrete, cable, signal and rail damage in need of mending.
- With an anticipated 15 percent drop in Williamsburg rent prices, perhaps the temporary inconvenience is worth finding alternative transportation.
- Fortunately for homeowners, experts say home values are likely to withstand the temporary construction, regardless of the unfavorable construction timeline and unanswered public concerns.