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  4. RETHINKING MULTIFAMILY VALUATION IN NEW YORK CITY: THE IMPACT OF THE COVID-19 PANDEMIC ON APARTMENT PREMIUMS

RETHINKING MULTIFAMILY VALUATION IN NEW YORK CITY: THE IMPACT OF THE COVID-19 PANDEMIC ON APARTMENT PREMIUMS

File(s)
Kim_cornell_0058O_12012.pdf (1.96 MB)
Permanent Link(s)
http://doi.org/10.7298/0576-1f49
https://hdl.handle.net/1813/115621
Collections
Cornell Theses and Dissertations
Author
Kim, Alexander
Abstract

This thesis examines the changes in the valuation of apartments and the premiums paid based on spatial characteristics, demographics, amenities, and neighborhood qualities in post-pandemic New York City. It is argued that traditional factors, such as proximity to the Central Business District and other prime locations such as Central Park, subway stations, and popular retail destinations like Starbucks have become less attractive to tenants due to the pandemic's effects on living and working habits. The study further investigates the growing importance of amenities and retail space in the building to post-pandemic residents. The analysis is contextualized within the historical redlining practices that shaped New York City's neighborhoods, affecting the distribution of essential workers and remote workers across the city.

Description
32 pages
Date Issued
2023-12
Keywords
Apartment
•
Coronavirus
•
Multifamily
•
Pandemic
•
Real Estate
•
Valuation
Committee Chair
Tchistyi, Alexei
Committee Member
Charles, Suzanne
Degree Discipline
Hotel Administration
Degree Name
M.S., Hotel Administration
Degree Level
Master of Science
Type
dissertation or thesis
Link(s) to Catalog Record
https://newcatalog.library.cornell.edu/catalog/16454765

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