In the competitive housing market of New York City, realtors are leveraging the controversy surrounding congestion pricing as a selling point for apartments located outside the zones where the toll will be imposed.
Glenn Barnett of Nest Seekers has adopted this strategy, sending out listings with the headline “Avoid Congestion Pricing.” According to Barnett, this approach has garnered a better response from potential buyers and renters who are intrigued by the proposition. By offering a unique angle in their marketing, Barnett believes it distinguishes his listings from the multitude of others that tout more conventional selling points like “Great Views.”
For instance, Barnett recently promoted a one-bedroom apartment located near First Avenue with the “Avoid Congestion Pricing” pitch. The impending $15 toll, set to be imposed on motorists entering the Midtown congestion zone below 60th Street, has sparked concerns among prospective residents, particularly those navigating Manhattan’s expensive real estate market.
Residents living within the congestion zone and earning less than $50,000 annually will have the opportunity to offset their toll bill against their income tax. However, this provision excludes many apartment-hunters who are already grappling with the exorbitant costs associated with living in Manhattan.
Barnett emphasizes that the introduction of the new toll adds another layer of consideration for individuals in the housing market, further accentuating the already high cost of living in the city.
“People are concerned. They want to know what congestion pricing is about. It’s very hard to drive in Manhattan right now,” Barnett remarked, reflecting the sentiments of many residents grappling with the challenges of navigating the city’s congested streets.
Barnett’s email blasts, featuring the “Avoid Congestion Pricing” pitch, are strategically disseminated to prominent real estate platforms such as Zillow and StreetEasy, ensuring maximum visibility among potential buyers and renters.
The impending rollout of the $15 toll by the MTA is fast approaching, scheduled to commence in mid-June after encountering years of delays and legal battles. Transit officials anticipate that the toll could generate approximately $1 billion annually, earmarked for substantial enhancements to the MTA’s public transportation infrastructure. The primary goal is to incentivize commuters to opt for mass transit over private vehicles, thereby alleviating traffic congestion and reducing air pollution.
However, the introduction of the toll, hailed as the nation’s first congestion pricing fee system, has sparked a vehement backlash over its financial burden on driving commuters. Multiple lawsuits have been filed in an attempt to halt its implementation, with plaintiffs including New Jersey Gov. Phil Murphy, the city teachers union, and various New York politicians, among them Staten Island Borough President Vito Fossella.
Even former Gov. Andrew Cuomo, who initially endorsed the law authorizing congestion pricing in 2019, has reversed his stance, citing evolving circumstances in the aftermath of the COVID-19 pandemic.