Number of landmarked buildings reaches new high: REBNY

New York /
Jul.July 11, 2013 06:15 PM

The number of Manhattan properties under landmark protection has reached new heights – a milestone that will only stifle job creation and new development and lift the city’s cost of living, according to the Real Estate Board of New York, as the New York Observer reported.

Nearly 27.7 percent of Manhattan – 11,857 properties – is now guarded by regulations governing landmarks, a report from REBNY revealed. In some neighborhoods, including the Upper West Side and Soho, that level has reached 70 percent.

In Manhattan, 93 percent of landmarked properties are located in historic districts, according to the report.

REBNY argued that a “broad brush” approach to landmarking has led to the inclusion of properties with no historic or architectural significance. Instead, the group argued, landmark status inflates prices and forces owners to spend more money on compliance.

In addition to existing properties, 48 vacant lots and 50 parking lots – 2.6 million square feet of potential development – are on landmarked properties in Manhattan. [NYO]Julie Strickland


Related Articles

arrow_forward_ios
John Banks
High expectations: A look at John Banks’ 4 years at REBNY
High expectations: A look at John Banks’ 4 years at REBNY
John Banks
John Banks to step down as REBNY president
John Banks to step down as REBNY president
REBNY Awards
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
REBNY's Ninve James and Trestle's Amy Gorce 
REBNY taps CoreLogic’s Trestle to manage RLS feed transmissions
REBNY taps CoreLogic’s Trestle to manage RLS feed transmissions
From left: Eric Adams, Andrew Yang, Maya Wiley and Scott Stringer (NBC/YouTube)
Mayoral hopefuls waver on Local Law 97
Mayoral hopefuls waver on Local Law 97
Mayor Bill de Blasio and REBNY president James Whelan (Getty, Whelan via Anuja Shakya)
Business alliance urges de Blasio not to blow $22B federal aid windfall
Business alliance urges de Blasio not to blow $22B federal aid windfall
Leasebreak's Phil Horigan and REBNY's James Whelan (Linkedin, Facebook/REBNY, iStock)
REBNY to charge consumer sites for RLS feed
REBNY to charge consumer sites for RLS feed
Brokers’ overall confidence level is the highest it’s been since the fourth quarter of 2019. (iStock)
Broker confidence rebounds in the new year
Broker confidence rebounds in the new year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...