The New York Post reported over the weekend that the New York City Economic Development Corporation, which runs the East River Ferry, estimates that ferry service has had a major impact on property values in Brooklyn and Queens.
The service, which launched in 2011, led to a jump in home values within an eighth of a mile of its stops by 8 percent above the normal market rate, according to an analysis by the city Economic Development Corporation.
A preliminary assessment of the East River Ferry is available online. Looking forward to ferry service expansion, one of the five possible new routes includes a stop on Grand Street, at the recently renovated East River Fire Boat House.
Last year, cooperator Joseph Hanania circulated a petition in support of a Grand Street ferry stop, an idea that has also won the support of Assemblyman Sheldon Silver.