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Working Papers

Option Value and Storefront Vacancy in New York City

Erica Moszkowski, Daniel Stackman • April 12, 2023

Why do storefronts remain empty for more than a year in some of the world’s highest-rent retail districts? Landlords with vacancies derive option value from two sources of…
Blog

Linking Historic Transportation Investments with Housing

Riordan Frost, Yonah Freemark • January 20, 2023

When President Biden first proposed his Build Back Better legislation, it included $300 billion in housing investments. While that legislative package never passed, portions…