The Mayfair- Subway 2nd Avenue

Nice marketing post. Just curious, which of the currently listed 2BRs are you the owner of (or broker for)? #16H or #5G?

sh sh sh sh shillery

Savvy,
Have you noticed the construction shaft being constructed next to the building to permit access for drilling the subway for the next 6 years or the bulldozer if front of the lobby door?

Savvy: Either you are a real estate agent pushing this building (or owner) or have missed lots of information. This building is slated to have construction going on in front, underneath, etc for the subway for the next 5 years. The garage and half the lobby, along with most of the stores along 2nd ave have all been slated for eminent domain for use as an entrance to the new subway. This is a building I would run from ....

The Second Avenue Subway construction and impact on residential real estate has been discussed recently: http://streeteasy.com/nyc/talk/discussion/25223-2nd-avenue-subway-construction

The 72nd St. subway station will extend to 69th St. where the Mayfair is located. It is a very large station, and is supposedly to be "finished" in 2015 according to the current contract (http://www.mta.info/capconstr/sas/documents/sas_Q3_FTAReport.pdf) but the last time a major NYC public works project was completed on time was, uh, never, I believe. In the next 4 years, the amount of blasting, traffic disruption, construction equipment, noise, dirt, and general chaos at the location of and vicinity of the Mayfair is going to be overwhelming and make life miserable in my estimation.

If this post was an attempt by a broker to tout the building, the attempt was feeble and fairly pathetic. If the post is genuine, the OP states the obvious--a new subway on 2nd Ave will help most 2nd Ave property values in the distant future. That is missed by no one. However, even once operational, the subway will not help everyone on 2nd Ave. I suspect there will be buildings for which the subway will be a mixed blessing such as those that have a major subway entrance in their lobby or next to it, and those which may feel the rumble of the trains (more likely in the 90's where the tracks are much closer to the surface).

With the current financial crisis making continued funding for anything uncertain, with the all but certain continued delays of the project given the massive scope and complexity of the undertaking, and the serious impact on quality of life at the location of the building discussed in this post, it would have to be a buyer with a very long time horizon and an ocean of patience who is willing to take on the risks and unpleasantness of buying now in the midst of what is to be a huge construction zone for the indefinite future.

Since the completion of the 2nd Avenue (Q Train) subway the East 60's-80's the value of property have increased. It has brought a new life to the area, making it convenient to reach the theatre district, all the way down to Wall Street, an easy commute. People are just in like with this addition, the Q train is not as congested as the Lexington Avenue Line. Welcome to the Upper east Side.....