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

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.

Name thesis:degree_name

M.S., Hotel Administration

Level thesis:degree_level

Master of Science

Discipline thesis:degree_discipline

Hotel Administration

Grantor

Cornell University

Year dc:date.issued

2023

Author dc:creator

• Kim, Alexander

Committee member dc:contributor.committeemember

• Charles, Suzanne

• Apartment
• Coronavirus
• Multifamily
• Pandemic
• Real Estate
• Valuation

Language dc:language.iso

en

DOI

http://doi.org/10.7298/0576-1f49

Dc Identifier Other

ProQuest Submission ID: 12012
ProQuest Publication ID: 30813220

OAI identifier oai:identifier

oai:ecommons.cornell.edu:1813/115621