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These comparatively meager official values are the result of a state law dating from decades ago that requires the city to calculate the value of condominiums and co-ops by using rental buildings as comparable properties, instead of apartment sales.
Mr. Sitt has developed a $1.5 billion plan to revive the amusement district with high-tech rides, a glass-enclosed water park, arcades, restaurants, a shopping mall and now time-share hotels, instead of apartment towers.
Similar(58)
And construction of offices instead of apartments will result in almost 90,000 square feet of additional rental space, in a building with a total of 324,000 square feet.
No. 34 was built as one of the square's many tall buildings which were originally intended for use as whole family homes instead of apartments.
But the machine doesn't pay like it used to, at least not when it comes to commercial skyscrapers that hold office suites instead of apartments or condos.
"Instead of an apartment, I rented a store," she says.
"Something about the staircase made me feel I was in a home instead of an apartment," he said.
Instead of an apartment, it shows a young blond woman against the Queens waterfront's glittering view of Manhattan.
I still think it's possible to end up in a mansion instead of an apartment because of the number six".
To the west, the neighborhoods grow wealthier: Instead of drab apartment buildings, there are nursing homes, churches, luxury condominiums (plastered with signs proclaiming "You Deserve to Live Here!") and well-kept homes in the blocks around Jacob RiisPark.
This week, Caroline and Albert are hanging at their country home (a.k.a. suburban Jersey) instead of the apartment in Hoboken.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com