Understanding the economic impact of urban street grids: evidence from a natural experiment in Manhattan

Abstract

Our project investigates the impact of rectangular street grids on urban economies using a natural experiment in Manhattan, New York. We collect original historical data on real estate transactions across two time periods (1880 and 1900) following the grid’s completion, but pre-dating zoning laws. Our preliminary results show a large increase in average real estate values in gridded areas, roughly 15-39% increase across specifications.