TABLE 1 - Equation for Predicting Mean Monthly Gross
Market Rent
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Description of Regressors
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Coefficient
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Standard Error
|
t-Ratio
|
P>|t|
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| No Problems with External Walls |
12.059 |
26.872 |
0.449 |
0.654 |
| No Problems with Windows |
-23.178 |
24.369 |
-0.951 |
0.342 |
| No Problems with Floors |
-11.486 |
14.812 |
-0.775 |
0.438 |
| Condition of Building - Sound |
39.125 |
47.016 |
0.832 |
0.405 |
| Condition of Building - Deteriorating |
17.571 |
46.812 |
0.375 |
0.707 |
| No Broken or Boarded Up Windows |
53.665 |
15.104 |
3.553 |
0.000 |
| Moved Into Unit 1981-1985 |
70.734 |
21.119 |
3.349 |
0.001 |
| Moved Into Unit 1986-1990 |
170.417 |
17.667 |
9.646 |
0.000 |
| Moved Into Unit 1991 |
180.803 |
22.455 |
8.052 |
0.000 |
| Moved Into Unit 1992 |
193.695 |
20.606 |
9.400 |
0.000 |
| Moved Into Unit 1993 |
189.832 |
18.437 |
10.296 |
0.000 |
| Moved Into Unit 1994 |
205.708 |
18.270 |
11.259 |
0.000 |
| Moved Into Unit 1995 |
229.996 |
17.307 |
13.289 |
0.000 |
| Moved Into Unit 1996 |
204.195 |
22.679 |
9.004 |
0.000 |
| 2 Units in Building |
-131.728 |
21.034 |
-6.263 |
0.000 |
| 3 Units |
-140.331 |
23.720 |
-5.916 |
0.000 |
| 4 or 5 Units |
-136.157 |
24.621 |
-5.530 |
0.000 |
| 6 to 19 Units |
-268.674 |
37.916 |
-7.086 |
0.000 |
| 20 to 49 Units |
-207.030 |
48.372 |
-4.280 |
0.000 |
| 50 to 99 Units |
-62.567 |
52.666 |
-1.188 |
0.235 |
| 100 Units or More |
-83.092 |
54.035 |
-1.538 |
0.124 |
| 2 Stories in Building |
21.349 |
39.592 |
0.539 |
0.590 |
| 3 Stories |
25.722 |
41.237 |
0.624 |
0.533 |
| 4 Stories |
60.758 |
45.601 |
1.332 |
0.183 |
| 5 Stories |
56.318 |
57.946 |
0.972 |
0.331 |
| 6 to 10 Stories |
81.209 |
63.422 |
1.280 |
0.200 |
| 11 to 20 Stories |
107.717 |
71.375 |
1.509 |
0.131 |
| 21 Stories or More |
273.913 |
70.974 |
3.859 |
0.000 |
| 2 Other Rooms in Unit |
68.190 |
15.053 |
4.530 |
0.000 |
| 3 Other Rooms |
104.085 |
17.113 |
6.082 |
0.000 |
| 4 to 6 Other Rooms |
178.155 |
28.228 |
6.311 |
0.000 |
| 1 Bedroom in Unit |
178.902 |
24.140 |
7.411 |
0.000 |
| 2 Bedrooms |
289.897 |
25.208 |
11.500 |
0.000 |
| 3 Bedrooms |
415.629 |
26.589 |
15.631 |
0.000 |
| 4 to 5 Bedrooms |
465.137 |
37.205 |
12.502 |
0.000 |
| Building Built 1970-1979 |
22.682 |
27.939 |
0.812 |
0.417 |
| Building Built 1960-1969 |
-58.092 |
23.181 |
-2.506 |
0.012 |
| Building Built 1947-1959 |
-79.581 |
25.714 |
-3.095 |
0.002 |
| Building Built 1930-1946 |
-106.215 |
22.819 |
-4.655 |
0.000 |
| Building Built 1920-1929 |
-103.622 |
22.868 |
-4.531 |
0.000 |
| Building Built 1901-1919 |
-107.438 |
24.093 |
-4.459 |
0.000 |
| Building Built 1900 or Earlier |
-61.265 |
29.314 |
-2.090 |
0.037 |
| Exclusive Plumbing Facilities |
57.100 |
44.846 |
1.273 |
0.203 |
| Exclusive Kitchen Facilities |
2.970 |
46.200 |
0.064 |
0.949 |
| 2 or More Stories with Elevator |
-14.486 |
43.234 |
-0.335 |
0.738 |
| Kingsbridge Heights, Mosholu, Riverdale, Kingsbridge, Williamsbridge, Baychester |
55.123 |
37.314 |
1.477 |
0.140 |
| Soundview, Parkchester, Throgs Neck, Co-op City, Pelham Parkway |
30.543 |
34.500 |
0.885 |
0.376 |
| Williamsburg, Greenpoint |
-19.247 |
42.680 |
-0.451 |
0.652 |
| Brooklyn Heights, Fort Greene, Park Slope,Carroll Gardens |
200.597 |
37.998 |
5.279 |
0.000 |
| Bedford Stuyvesant, Bushwick |
-11.367 |
37.121 |
-0.306 |
0.759 |
| East New York, Starret City, Brownsville, Ocean Hill |
-8.529 |
36.289 |
-0.235 |
0.814 |
| Sunset Park |
-9.978 |
40.785 |
-0.245 |
0.807 |
| North Crown Heights, Prospect Heights, South Crown Heights |
64.133 |
38.637 |
1.660 |
0.097 |
| Bay Ridge |
15.787 |
41.261 |
0.383 |
0.702 |
| Bensonhurst |
36.528 |
37.260 |
0.980 |
0.327 |
| Borough Park |
-1.709 |
38.471 |
-0.044 |
0.965 |
| Coney Island, Sheepshead Bay, Gravesend |
68.145 |
36.637 |
1.860 |
0.063 |
| Flatbush, East Flatbush |
48.418 |
36.742 |
1.318 |
0.188 |
| Flatlands, Canarsie |
89.730 |
39.123 |
2.294 |
0.022 |
| Greenwich Village, Financial District |
738.374 |
46.677 |
15.819 |
0.000 |
| Lower East Side, Chinatown |
102.337 |
76.108 |
1.345 |
0.179 |
| Chelsea, Clinton, Midtown, Stuyvesant Town, Turtle Bay |
647.118 |
42.478 |
15.234 |
0.000 |
| Upper West Side, Upper East Side |
690.239 |
43.296 |
15.942 |
0.000 |
| Morningside Heights, Hamilton Heights, Central Harlem, East Harlem, Washington
Heights, Inwood |
188.923 |
47.170 |
4.005 |
0.000 |
| Astoria |
94.730 |
36.074 |
2.626 |
0.009 |
| Sunnyside, Woodside |
75.020 |
42.410 |
1.769 |
0.077 |
| Jackson Heights |
98.816 |
37.824 |
2.613 |
0.009 |
| Elmhurst, Corona |
139.219 |
40.633 |
3.426 |
0.001 |
| Middle Village, Ridgewood |
33.501 |
36.571 |
0.916 |
0.360 |
| Forest Hills, Rego Park |
162.805 |
43.891 |
3.709 |
0.000 |
| Flushing, Whitestone |
144.569 |
36.328 |
3.979 |
0.000 |
| Hillcrest, Fresh Meadows |
118.494 |
41.533 |
2.853 |
0.004 |
| Kew Gardens, Woodhaven |
4.024 |
39.696 |
0.101 |
0.919 |
| Howard Beach, South Ozone Park, Rockaways |
89.569 |
37.819 |
2.368 |
0.018 |
| Bayside, Little Neck |
125.082 |
46.126 |
2.712 |
0.007 |
| Jamaica |
15.335 |
40.341 |
0.380 |
0.704 |
| Bellerose, Rosedale |
155.618 |
41.045 |
3.791 |
0.000 |
| North Shore |
66.321 |
38.860 |
1.707 |
0.088 |
| Mid-Island |
41.638 |
42.795 |
0.973 |
0.331 |
| South Shore |
4.549 |
46.796 |
0.097 |
0.923 |
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| Intercept |
211.210 |
82.174 |
2.570 |
0.010 |
| Coefficient of Determination |
0.498 |
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| Standard Error |
228.380 |
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| Number of Observations |
2805 |
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NOTE. -- A value of 1 for No Problems with External Walls indicates there
is no missing brick, siding, or other outside wall material, no sloping
or bulging of the outside walls, no major cracks in the outside walls, and
no loose or hanging cornice, roofing, or other material. A value of 1 for
No Problems with Windows indicates there are no broken or missing, rotten
or loose, or boarded up windows. A value of 1 for No Problems with Floors
indicates there are no sagging or sloping floors, slanted or shifted doorsills
or door frames, no deep wear in the floors causing depressions, and no holes
or missing flooring. ß
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