The L train shutdown could reduce Williamsburg rents by hundreds of dollars

ltrainNate Silver’s FiveThirtyEight has a new study based on thousands of rental prices that determined people are willing to to pay about $56 per one minute of a better work commute time. It includes a section specifically about the forthcoming L train shutdown:

Our findings suggest that residents of Williamsburg and other Brooklyn neighborhoods on the L train could soon be paying less in rent. That’s because the MTA plans to close the L train for repairs starting in 2019, adding about eight minutes to commutes from the Bedford Ave. station and about four minutes from other stations along the L. The shutdown should shave about $200 to $450 off the rent of the typical Williamsburg one-bedroom — until the repair work is done, anyway.

Check out the rest of the study here.

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