According to a study by the Economic Development Corporation, the East River Ferry has increased the total property value of all homes within a mile of one of its stops by $500 million. (It seems like property values probably would have increased since 2011 even without the ferry, but we guess they took that into account?) According to the study, the ferry has also led to 500,000 square feet of new residential and commercial space. The city is looking into expanding service. [NYP; previously]
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