How measure estate value in the big apple? Walking along districts of Manhattan

Abstract

The paper explains a procedure to discover the coherence of the relationship between physical distance and real estate value variation. Many author consider (both in the past and in the recent time) the possibility that real estate value can depend on distance from some central point. Such convintion lead to the use of geostatistical approaches based on kriging techniques. In the same time literature teach that the market shows a higher value where several amenities are coexisting. But in those urban realities where the number of central points and the number of amenities is high, the complexity does not support the construction of models, and this complexity leads to a different concept of identity as synthesis of distance, borders and concentration. The use of fuzzy cluster can support the analysis. The paper gives a brief example about how this works in the case of New York core. © 2011 Springer-Verlag.