Anybody that thought parents would be the ones celebrating or fuming about this weeks' NYC school report cards was half right. The other place the grades are making waves is in the real estate market, and there seems to be a particularly strong ripple effect in Brooklyn neighborhoods where the local school attached to the condo is a selling point. For instance, PS 261 in Boerum Hill only got a C and now "parents are 'flipping out'" and real estate agents that use it to sell property in the neighborhood because it's the "kind of school you'd see in the real estate section" are wondering. Or the Windsor Terrace school that "has become a selling point for moving to Windsor Terrace" that got a D. In Park Slope, PS 321, "whose attendance zone is all but outlined in gold to real estate agents and their clients" in the words of the Times, only got a "B." The real estate community is already doing damage control, with Peggy Aguayo of Aguayo & Huebener saying Park Slope buyers are "independent thinkers and highly intelligent, who I don’t think would necessarily trust a bureaucratic statistical analysis as being the almighty.” One-five percent PriceChops in the Slope!
· School report cards may have effect in the real estate market [NYDN]
· The Day After School Grades Come In, Parents Are Buzzing [NYT]