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NY1 reports that the MTA is accepting RFPs from construction companies for the massive project of tunneling under Second Avenue for the Second Avenue subway. Gothamist can only hope that one of the companies submitting a bid has that special "quiet drilling" technology. Even though drilling is 50 feet underground, let's face it, you can feel the subway moving under your feet on the street (or next to you, if you're at the Angelika). For a get rich in 20 years scheme, Gothamist says you should buy on property along the proposed 2nd Avenue subway and then sell when it's finished, knowing that at any point the project could stall out.
The MTA on the Second Avenue Line project, NY magazine's cover story on the Second Avenue Subway, and Gothamist readers wonder what color and numbers/letters the new line will be.
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the bschool evaluation of jen's scheme: if the real estate market is efficient, prices in the neighborhoods along the new 2nd ave route have already adjusted to reflect both the increase in value associated with the subway, and the risk associated with the line not being built. so there's no way to use that public information to make any money.
The issue now is that the NYC real estate market is grossly overvalued, with or without the subway scheme. With interest rates looking to be upped, the market will go down and buyers could make their move. Anyway, I'm still keen on my plan for a lean-to village in a yet-to-be-named park.
Does anyone know why the new 2nd Ave. line will have atypical +10 block distances between numerous stops? e.g.:
Houston to 14 = 14 blocks
42 to 57 = 15 blocks
57 to 72 = 15 blocks
72 to 86 = 14 blocks
Obviously, the more stations makes it cost more, but I haven't been able to find any justification, monetary or otherwise, in reading about the new line.
I like the project schedule on the MTA's site. It shows start dates with arrows pointing perpetually into the future. What are they trying to tell us?
Jake, prices for apts on UES east of 3rd ave have always been lower than those west. Also UES studio and 1BR prices are much lower than on UWS at the moment. Maybe the market is doubtful this will ever be finished. In which case a contrarian view, even with info that is already public, may win out in the end.
Jen,who says prices will go down when rates go up? Rates going up usually signal a recovery and recovery usuually takes RE along with it. Granted RE prices are crazy and have gone up anyway. I don't think anyone can predict.
Mase, RE for stations is scarce and expensive. Some buildings, stores, businesses etc will have to be shuttered for the proposed stattions. I doubt they could close any more.
BTW, typical subway lines are only a few feet below street level which explains why you can feel the trains on the street. This line will not be built with the cut and cover method but with deep boring so will need to be deep enough to avoid utilities etc. I doubt you will be able to feel actual tunneling but will obviously feel the initial drilling of the vertical shafts.
Does anyone know why the new 2nd Ave. line will have atypical +10 block distances between numerous stops?
To keep the cost down.
Unlike all the other north-south lines in Manhattan, the second ave. line will not have local and express tracks. It will only have one track in each direction. So the stations will be spaced closer together than typical express stations, but further apart than typical local stations.
The SAS will be built using deep tunneling (like the Moscow metro and many of London's Underground lines). Unlike the cut and cover method used for the other subway lines, where marginal cost per station is relatively low, the marginal cost of adding another station 5 stories down is much higher.
I don't get it. The NY Mag article says MTA has $1B, a quarter of the money needed to build the stubway (96th - 63rd). The entire line is projected to cost $17B. Where does the MTA come up with the extra $16B? The state and federal governments have said nice things but haven't put up the money. What am I missing?