Report: Stadium land worth 10 times surrounding area
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.