ULI New York Blog

How Historical Designations Affect Property Values

When Brooklyn Heights was named New York City’s first historic district in 1965, preservation advocates were delighted. From the modest pre–Civil War federal style to the late-19th-century Greek Revival–style mansions, one of the nation’s most diverse collections of architecture would be permanently preserved. As a report on Brooklyn Heights from the Landmarks Preservation Commission, the newly created arbiter of historic entrée in New York, remarked,

The interesting old buildings arrayed on irregular streets, with unexpected vistas, emanate an appearance and even more a spirit and character of Old New York which no single part thereof, and certainly no individual Landmark, could possibly provide.

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