News & Press

December 10, 2016

betting on turnstiles for a turnaround

The New York Times

 

Developers and homeowners in Yorkville celebrate the upcoming opening of the Second Avenue subway.

The eastern Upper East Side, a subway desert, is about to see the end of its drought. In December, nine years after construction of the initial phase began – and decades after it was first proposed – the Second Avenue subway is scheduled to open.

For Yorkville residents, who have endured dust, explosions, and barricades while workers burrowed tunnels under their feet, and who make long slogs to Lexington Avenue trains, that moment will probably be joyous.

While the Carnegie Park website doesn’t mention the coming subway — perhaps because the Lexington Avenue line is a block to the west — other developments are more explicit. On the site for the Charles, a new 27-unit, 31-story condo from Bluerock Real Estate at 1355 First Avenue near East 73rd Street, a map shows the future Q and T stop at East 72nd. The building, which has six remaining units, is getting an average of $2,400 a square foot, said R. Ramin Kamfar, Bluerock’s chief executive.

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