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Survey: LIRR expansion will boost LI real estate values

A survey conducted by Margolin, Winer & Evens LLP found that Long Island real estate professionals believe the new LIRR station under Grand Central and the addition of a third track between Floral Park and Hicksville will have the biggest impact on the island’s real estate property values.

 

 


“The pending mass transit improvements, including the Eastside access tunnel and new LIRR station under Grand Central and the addition of a third track between Floral Park and Hicksville, were the top choices of 91 percent of those surveyed to boost real estate values here.

The survey responses were collected at a panel discussion event on the future of Long Island real estate sponsored by Margolin Winer & Evens and Bisnow at the Garden City Hotel on Wednesday.

MWE real estate partner John Schmuck, who moderated the panel on the multifamily residential sector, said most of the panelists were “cautiously optimistic” on Long Island’s real estate future.

“They still have concerns about rising interest rates, but they’re hopeful that the third track and other infrastructure improvements will have a positive effect,” Schmuck told LIBN.” Read More>>

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Read: Ambitious Rail Expansion Planned to Ease Long Island Rail Road Congestion


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