SECOND AVENUE SUBWAY: AFTER 85 YEARS WILL IT BE A REALITY?

The Second Avenue Subway in NYC has been a transportation project that has been envisioned for over 85 years now. Since 1929, when the need for a Second Avenue Subway line was first realized and plans were first developed, there have been repeated delays and setbacks. All of those delays were linked to, not surprisingly, the economy and national wars. Finally, after many plan revisions, in 2007 work began in earnest. Phase 1 of the 4 phase project was finally fully funded – or so we believed.

 

Funding for the Second Avenue Subway Project from 1929 – 2015

When the Second Avenue Subway was first planned back in 1929, it was estimated that the total construction cost would be $98,900,000. Today we laugh at such a figure. We are now talking billions of dollars per phase.

 

Just a few months ago, with over 80% of the Second Avenue Subway phase 1 project completed, MTA Chairman, Thomas Prendergast, wrote a letter to First Deputy Mayor Anthony Shorris reiterating that the Second Avenue Subway line completion was “critical to the future of the city itself.” He stated his reasons as:
“The MTA and its transit system are at a crossroads. Ridership has never been higher. The city’s population has grown and its location has shifted, putting pressure on transit in newly developed neighborhoods, and, in fact, the entire system.”

 

 

Mr. Prendergast’s reason for the letter however, was to request $1 billion for the Second Avenue Subway over the next five years. On top of that, an additional $1.5 billion will be needed for repairs and maintenance.

 

 

While it is true that the first phase of the Second Avenue Subway project is due for completion by December of 2016, even that may be delayed. In a report made just this past week, Matthew Welbes, Executive Director of the Federal Transit Administration in Washington, D.C., commented on the Second Avenue Subway project:
“It looks like the project is trending, based on our data, toward an opening of closer to, maybe early in, sometime in 2017.”

But, with all of that fudging, the FTA has been contradicting the MTA’s prediction by stating that they believe the opening of phase 1 will be more like 2018.

 

Current Second Avenue Subway Line Time Frame Predictions

 

Okay, so if the Second Avenue Subway line has been in the works for over 85 years already, what is the current plan? Will you see any of it in your lifetime? While you most probably will experience the benefits of the first phase completion, certainly those who lived in 1929 will never benefit from any of the completion.

 

Here is the projected plan:

• Present – December 2016: Phase 1 (96th Street to 63rd Street). This phase is projected to serve 200,000 daily riders.
• Phase 2 (125th Street to 96th Street). Currently underfunded and cannot begin construction until more fully funded. The projection is to begin construction sometime in 2019, at the earliest.
• Phase 3 (63rd Street to Houston Street). No funding at all yet.
• Phase 4 (Houston Street to Hanover Square). No funding at all yet.
At this time, when the complete Second Avenue Subway line is finished, the projection is that it will serve 560,000 daily riders. Most likely it will be considerably more by the time the line is totally ready. The projection is for 2029.

 

 

Written by Anne Schabert for MetropolisApts.com

Photography by Tom Ripellino

 

The Upper East Side: A Posh Neighborhood in Uptown Manhattan

The Upper East Side is a Posh Neighborhood in Uptown Manhattan

When we think of the Upper East Side, images of wealthy residents and their purebred dogs come to mind. You also visualize trees lined community with beautiful houses on both sides of the streets. Well, you are not off the mark as this borough of Manhattan is indeed home to some of the wealthiest and influential people of the country. The Upper East Side is indeed a posh locality famous for its affluent residents.

 

High home prices and rents

The Upper East Side is bound by 96th Street, 59th Street, East River, and Fifth Avenue on its north, south, east, and west respectively. Median home prices in this neighborhood are $1.1 million while median monthly rents here are touching $2400. A lot of people are attracted to the Upper East Side, especially Museum Mile which is always buzzing with activities. However, the historic architecture of the buildings and clean sidewalks make it clear that this neighborhood hast a rather relaxed and calm atmosphere.

 

Relaxed and refined living

Central Park is, in many ways, the heart of Upper East Side. This sprawling park is full of greenery and provides an opportunity to the residents to have fun with friends and families, also enjoy its nature. This park will become your playground if you choose to make UES your home. You will find this neighborhood just like Paris. It feels so refined and aloof from the rest of Manhattan that you will feel as if you have come into another city.

 

Paradise for people with artistic leanings

Upper East Side is home to the famous Museum Mile, a mile long stretch that contains some of the finest museums around the world. If you are fond of art and culture, you would love to spend your time in some of these museums like Met, Jewish Museum, and the Guggenheim.

If you are looking for nightlife, you should go to Second Avenue. You will be surprised that there are no clubs here. But the Irish pubs on this street are very welcoming and remain open till late in the night. People enjoy alcoholic drinks, music, and dancing in the Irish pubs.

As far as real estate is concerned, you will find expansive townhouses and luxury apartment buildings with uniformed doorman standing at the front of the gate. Towards the eastern part of the Upper East Side, you will find one and two-bedroom apartments that are surprisingly affordable.

Upper East Side has a beauty and charm that is attracting more and more families. There are a lot of great schools, awesome playgrounds, and many diverse restaurants.

 

 

The Wellesley

 

https://www.metropolisapts.com/top-5-reasons-hire-real-estate-professional/

 

Claridge House

Claridge House is a full service residential building on the Upper East Side.

The building features a Swimming Pool, 24 hour doorman service, and a beautiful lobby. It’s just around the corner from Whole Foods and blocks from Central Park. The Upper East Side neighborhood is so lively with access to many restaurants, retails shops and more; the Claridge House is in a great location.

The apartments get great sunlight and have great views. Hardwood floors, spacious living rooms and large windows are some of the apartment features you will find.  The kitchens have high end stainless steeel appliances, granite counter tops and either Modern white or Maple Cabinetry.

Some of the other amenities at Claridge House include a roof deck, laundry, health club, valet service and parking.

 

 

TRANSIT INFORMATION

86 St (0.10 miles)
86 St (0.15 miles)
96 St (0.41 miles)
96 St (0.44 miles)

Don’t hesitate to contact us if you’re looking to rent an apartment at the Claridge House for No Broker Fee.

115 EAST 92ND ST