REP. CAROLYN MALONEY, REAL ESTATE LEADERS AND MERCHANTS HAIL ECONOMIC BOOM FOR NYC WHEN SECOND AVENUE SUBWAY AT LAST OPENS DEC. 31, 2016

New York, (NY) December 21, 2016 – (RealEstateRama) — Congresswoman Carolyn B. Maloney (NY-12), joined by Dottie Herman, Chief Executive of Douglas Elliman Real Estate, the Second Avenue Merchants Association, and the Manhattan Chamber of Commerce, hailed a real estate and economic boom for New York City once the decades-long awaited Second Avenue Subway Line at last opens December 31, 2016.

Rep. Maloney said that along with vastly improved transportation for the Upper East Side of Manhattan, the Line will bring new businesses to Second Avenue, whose merchants have been hurting because of the long period of construction.

“This is a new beginning for Second Avenue, New Yorkers, merchants and visitors to our great city,” Rep. Maloney said. “We have been waiting a long, long time for this subway line to open, and we can all look forward to the New Year with greater optimism because a subway will at last be rumbling beneath our feet on Second Avenue.”

Ms. Herman announced the construction of many new buildings in the neighborhood that will be occupied by tens of thousands of people.

“The New York real estate industry has been booming for some time now, and these new developments will only add to the luster of Manhattan,” Ms. Herman said. “We are so pleased at last to have this Subway Line. Economic and real estate development in New York City has rarely been stronger.”

The Second Avenue Subway Line is one of the largest mass transit project in the nation, with the first phase of the project receiving $1.3 billion in federal funding. Some 200,000 riders are expected to take the Line each day and is being hailed by local business leader in the community.

Samuel Musovic, President of the Second Avenue Merchants Association, has been eagerly awaiting the advent of the new Line. “The Merchants of Second Avenue have undergone tremendous pressure as a result of the many years of construction of the Subway Line,” Mr. Musovic said. “Now we can go back to a time when shoppers can walk Second Avenue without any problems and come in and out of the stores with ease and in comfort. This is going to be a great addition to the Avenue and to the City as well.”

Source: Congresswoman Carolyn B. Maloney

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