The Value of Land
Analysis Uses Park Slope, Brooklyn Heights as Examples
When analyzing a new study by the Federal Housing Finance Agency that examines the ramifications of land value, the Washington Post used two upscale Brooklyn neighborhoods as examples. The reason an acre of residential land in Brooklyn Heights or Park Slope costs about 7,500 times as much as an acre in Western Arkansas is demand — the two Brooklyn neighborhoods are close to the subway, food-co-ops and high-paying jobs. Areas like the Slope or the Heights also “tend to have higher taxes and zoning restrictions.” (WaPo via Brooklyn Eagle)
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