Mayor de Blasio’s is moving closer to the 1 percent — and he’s got Michael Bloomberg to thank for it.
Under Bloomberg’s watch, the value of de Blasio’s Brooklyn home has doubled in just seven years, according to new valuations by the city’s Finance Department.
The tentative 2014-15 assessment rolls issued this week put a market value of $1.4 million on de Blasio’s home on 11th Street in Park Slope, up 19 percent from last year’s $1.18 million.
In 2006-07, the city pegged the price of the modest one-family house at $674,600.
During his mayoral campaign, de Blasio warned that the Big Apple had become a “tale of two cities” with gaping income inequality the between rich and poor. But the record is clear that the Bloomberg years have been very good to de Blasio.
The data shows de Blasio and his neighbors are benefitting more than homeowners in other parts of the city.
The median property value on homes surged 17 percent in Park Slope, more than double the 7 percent average for Brooklyn.
Citywide, one- and two-family home values increased by just 4.7 percent.
Realtors say de Blasio may have made the best financial move of his life when he decided to settle in Park Slope, where he owns two homes and where there’s now a stampede to get in.
Last spring and summer, about 70 people would show up on the first day of an open house in the neighborhood, said Michael Simmon-Pappadakos, a broker with Garfield Realty.
“It’s like a pipe that was backed up. There was pent-up demand,” he said. “It was a frenzy. There were bidding wars.”
Simmons-Pappadakos
added homes on 11th Street — lined with popular restaurants and entrances to a park and playground — are particularly prized.
“The word’s out. The area is in demand. For bragging rights, people can now say they live on the same block as the mayor,” he added.
State Conservative Party Chairman Mike Long, a proud Brooklynite, said the skyrocketing property values proves the new mayor was telling a phony tale during the campaign.
“What city does Mayor de Blasio live in? The Bloomberg years served de Blasio very well,” Long said. “The middle class did much better. All the real-estate values went up because New York City became a much safer place. Tourism is up. The population is up,” added Long.
The mayor on Thursday described the rise in property values as welcome news.
“It’s obvious that real-estate values are increasing all over the city . . . We’re going to have some additional revenue,” he said.
Additional reporting by Lois Weiss