Home Prices Spike Near This Windsor Terrace Station, Study Shows

WINDSOR TERRACE, NY — Buying a home in Windsor Terrace can cost you a pretty penny, and you'll have to cough up significantly more to live by one of the neighborhood's stations, a new study shows.

The PropertyShark report, released Tuesday, found that the median home close to the 15th St.- Prospect Park is worth $1,600,000 — 94 percent more than the $825,000 median sale price in Windsor Terrace. But the study suggests that proximity to a subway station doesn't consistently boost homes' values in the neighborhood.

Indeed, homes near the area's other F and G subway station—Fort Hamilton Parkway— are worth less than the median. Specifically, the median home close to the Fort Hamilton stop has in recent years went for $734,500, or 11 percent less than Windsor Terrace's median sale price.

Neither station has the typical effect on property values as in Brooklyn overall, the study shows.

"To be near a subway station in Staten Island and Brooklyn, you can expect to pay on average 9% and 11% more than the borough median, respectively," PropertyShark says.

Citywide, a home being located close to a station generally increases its sale price.

"Of the 431 stations we analyzed across all five boroughs it’s more expensive to purchase a home near 53% of them," he report states.

PropertyShark defines close proximity to a station as a home being within a quarter-mile of the stop's entrance. The report is based on sales data from January 2014 to June 2019.