New York City Property Values Rise 4.7%
- Construction-related market value rises to highest in 10 years
- NYC property values rise $62 billion to $1.38 trillion
Buildings stand in the Flatiron District of New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
New York City is reaping the benefits of a construction boom.
The city set a value of $1.38 trillion for its more than one million properties for the fiscal year beginning in July, a $62 billion increase from the prior period, as the value of new construction reached the highest level in the last 10 years, according to a tentative assessment roll released by the Department of Finance Wednesday.