Report: Stadium land worth 10 times surrounding area

THE BRONX - The Daily News reports that New York City has assessed the land that the new Yankee Stadium is being built on to be worth 10 times more than most of the land surrounding it. According to reports, officials from the Department of Finance say the property is worth $275 per square foot. However, the land within a dozen blocks around the site averaged less than $25 a square foot. An assistant commissioner at the finance department says the value of the land was figured out by using a standard system for new construction. State Assemblyman Richard Brodsky (D-Westchester) calls the findings ?inexplicable and disturbing.? He's expected to release his own report next week.

advertisement | advertise on News 12

Trending Video

Three middle school students were arrested after an 1 Students arrested after assaulting school employee
Bronx residents have long complained about long lines, 2 The Buzz: Post office problems
3 Bronx Sportscast, April 27
Bronx Weekend Travel Advisory, 4/28 to 4/30 4 Bronx Weekend Travel Advisory, 4/28 to 4/30
Dramatic cellphone video caught officers shocking Dailene Rosario 5 Charges dropped against Tasered pregnant teen

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE