Are You Ready?
The temporary shut down of one of New York City’s most-used trains has been creeping up on commuters for over a year now, but it’s official date of shut down is no longer too far out of reach. According to AM New York, the MTA announced the 15-month long shutdown of the L-train will begin on April 27, 2019. A mere 4 months from now.
Although, it is not the entire L-train that will be shut down. The needed repairs due to flooding damage from Hurricane Sandy in 2012 are only necessary from Bedford Avenue in Brooklyn to Eighth Avenue in Manhattan. It is only 6 of the 24 L-train stops that will be temporarily shut down. It completely blocks off riders from being able to commute between Manhattan and Brooklyn. It’s said that around 225,000 people use the L-train every day to commute between Brooklyn and Manhattan.
Approximately 80% of these commuters will use other subway lines during the closure of the J, M, Z, and G-train lines are said to be offering increased service during this 15-month period. For example, an additional 62 round trips will be made on the M-line every weekday. There is also going to be replacement bus lanes on the Williamsburg Bridge, with 1 lane going in each direction, servicing 4 new bus routes.
Residents of Williamsburg
Commuting is not the only thing that will change during the L-train shutdown. According to Curbed New York, rentals in the prime area of Williamsburg during the L-train shutdown are going to be offering major incentives to get residents to move into their buildings, despite having a lack of having transportation for 15 months.
Justin Rubinstein, an agent with Douglas Elliman, has said that renters in luxury properties have already started offering current residents deals, in hopes that they’ll renew their leases. “I have seen a lot of renters working to negotiate their rents because landlords would like them to stay close to Williamsburg,” Elliman stated. Incentives offered to residents could include things such as extra months of free rent, either a no-rent increase or even a rent decrease, and no broker’s fees. Fifth and Wythe, a luxury Williamsburg rental building, is said to already be offering units with no broker’s fees.
A StreetEasy report from last March showed average rent prices in Williamsburg saw a 0.6% decrease compared to the previous year, so we can only imagine how much more prices will decrease once the L train officially gets shut down. But what does this mean for rentals in the areas of East and South Williamsburg, Greenpoint, and Bushwick? Considering many Williamsburg residents who aren’t going to want to leave Brooklyn will move to these areas, we can expect that prices of rent will increase.
Prepare to Shut Down
The shut down was originally planned to start in January of 2019, lasting 18 months, but was voted differently in April 2017 to what is now the current projected 15-month long plan. The projected cost of the needed repairs is $477 million dollars.
Written By Sal Clark
Editorial Update: The “L-Pocalypse” is over before it even began.
Read more at: The L Train Won’t Be Shutting Down After All