To L and back

As the MTA plans an L train shutdown, a look at the potential fallout

May.May 01, 2016 01:00 PM
Bedford Avenue station in Williamsburg

Bedford Avenue station in Williamsburg

Mark your calendars, L train riders. The Metropolitan Transportation Authority has announced that repairs to damage caused by age and Hurricane Sandy could begin in 2019. The project will require the Canarsie tunnel, which connects the L between Brooklyn and Manhattan, to be shut down either partially or entirely. Areas closest to the East River, namely the trendy, gentrifying sections of Williamsburg, would be most affected. Landlords are understandably nervous. About 78 percent of housing units in Williamsburg, Greenpoint and Bushwick are occupied by renters, who could elect to relocate. “For the most part, it’s going to be somewhat similar to when the bow of the Titanic met the iceberg,” said Tim King of CPEX Real Estate. 

(Click to enlarge)

(Click to enlarge)


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Nelson Management’s Robert Nelson with the Promenade Nelson Apartments and Lafayette Boynton Apartments (Nelson Management)
Nelson Management eyes $200M for BX apartments
Nelson Management eyes $200M for BX apartments
1 North Moore (Street Easy, iStock)
Tribeca triplex for sale after fetching $85,000 a month as a rental
Tribeca triplex for sale after fetching $85,000 a month as a rental
(James Davis of Better Angle Media)
Shaquille O’Neal trades big Florida home for smaller Texas one
Shaquille O’Neal trades big Florida home for smaller Texas one
Southern California wildfires (Credit: Getty Images)
Flame off: Country’s first “wildfire-prepared” home is completed
Flame off: Country’s first “wildfire-prepared” home is completed
Island Sotheby’s International Realty agent Dan Omer and Hana Ranch in Maui (Sotheby's International Realty)
Hawaiian ranch next to Oprah hits market for $75M
Hawaiian ranch next to Oprah hits market for $75M
arrow_forward_ios

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

Loading...