CUNY MSDS Capstone Project
Taxation Equity for NYC Co-ops
PK O’Flaherty
Coding Chunk 10
2025-07-16
Load Data
Here we load the data
# Check out packages
library(tidyverse)
library(dplyr)
#library(FNN)
#library(MASS)
#library(randomForest)
#library(caret)
#library(pdp)
#library(iml)
# Load data
df1 <- readRDS("~/Documents/D698/df.rds")Remove Condos
We noticed that Condos have one record per unit instead of one record
per building. We attempted to roll them up with the sum or
non-missingness of their other column values, however we were missing a
relevant record in the PLUTO database where condos are one record per
building to identify which lot number to use. Also we were missing
FINMKTTOT for condo records. An attempt to return to Coding
Chunks 5 and 6 to resolve the issue upstream didn’t preserve
FINMKTTOT so we’re removing condos to focus on co-ops and
non-condo Class 2 buildings.
This led to rerunning previous chunks to both exclude Condos but widen the scope from zip code 10019 to all of Manhattan.
Missing Values
There are lots of missing values:
colSums(is.na(df1))## PARID BORO BLOCK
## 0 0 0
## LOT EASEMENT YEAR
## 0 13349 0
## FINMKTTOT FINTAXCLASS BLDG_CLASS
## 0 0 0
## ZONING ZIP_CODE LOT_FRT
## 1 0 0
## LOT_DEP LOT_IRREG BLD_FRT
## 0 40 0
## BLD_DEP BLD_EXT BLD_STORY
## 0 195 0
## CORNER LAND_AREA NUM_BLDGS
## 9878 0 0
## YRBUILT YRALT1 YRALT2
## 0 0 0
## COOP_APTS UNITS CONDO_Number
## 0 0 13349
## GROSS_SQFT OFFICE_AREA_GROSS RESIDENTIAL_AREA_GROSS
## 0 0 0
## FINTAXFLAG cd bct2020
## 0 37 37
## bctcb2020 schooldist council
## 37 37 37
## firecomp policeprct healthcenterdistrict
## 37 37 37
## healtharea zonedist1 spdist1
## 37 40 11106
## ltdheight bldgclass landuse
## 13220 16 34
## easements histdist landmark
## 16 10749 13248
## builtfar residfar commfar
## 16 16 16
## facilfar bbl condono
## 16 16 13349
## tract2010 xcoord ycoord
## 37 37 37
## firm07_flag pfirm15_flag latitude
## 13027 12807 37
## longitude ASP
## 37 11424Significant Missingness
We’re dropping 37 records missing xcoord and ycoord. They presumably are the same records that have ~37 missing in the other columns.
We’re also dropping CONDO_Number, EASEMENT,
and condono since they are all missing.
df2 <- df1 %>%
filter(!is.na(xcoord))
df3 <- df2 %>%
dplyr::select(-CONDO_Number, -EASEMENT, -condono)
names(df2)## [1] "PARID" "BORO" "BLOCK"
## [4] "LOT" "EASEMENT" "YEAR"
## [7] "FINMKTTOT" "FINTAXCLASS" "BLDG_CLASS"
## [10] "ZONING" "ZIP_CODE" "LOT_FRT"
## [13] "LOT_DEP" "LOT_IRREG" "BLD_FRT"
## [16] "BLD_DEP" "BLD_EXT" "BLD_STORY"
## [19] "CORNER" "LAND_AREA" "NUM_BLDGS"
## [22] "YRBUILT" "YRALT1" "YRALT2"
## [25] "COOP_APTS" "UNITS" "CONDO_Number"
## [28] "GROSS_SQFT" "OFFICE_AREA_GROSS" "RESIDENTIAL_AREA_GROSS"
## [31] "FINTAXFLAG" "cd" "bct2020"
## [34] "bctcb2020" "schooldist" "council"
## [37] "firecomp" "policeprct" "healthcenterdistrict"
## [40] "healtharea" "zonedist1" "spdist1"
## [43] "ltdheight" "bldgclass" "landuse"
## [46] "easements" "histdist" "landmark"
## [49] "builtfar" "residfar" "commfar"
## [52] "facilfar" "bbl" "condono"
## [55] "tract2010" "xcoord" "ycoord"
## [58] "firm07_flag" "pfirm15_flag" "latitude"
## [61] "longitude" "ASP"Recategorize NAs
Next we replace NAs that should be flagged as zero or No. For example
firm07_flag is either NA or 1 so
we can replace the NAs with 0.
df4 <- df3 %>%
mutate(firm07_flag = replace_na(firm07_flag, 0)) %>%
mutate(pfirm15_flag = replace_na(pfirm15_flag, 0)) %>%
mutate(landmark = replace_na(landmark, 'None')) %>%
mutate(histdist = replace_na(histdist, 'None')) %>%
mutate(spdist1 = replace_na(spdist1, 'None')) %>%
mutate(CORNER = case_when(CORNER %in% c("CR", "NE", "SW", "NW", "SE") ~ "Yes", is.na(CORNER) | CORNER == "00" ~ "No")) %>%
mutate(ltdheight = replace_na(ltdheight, "None")) %>%
mutate(LOT_IRREG = replace_na(LOT_IRREG, "Unknown")) %>%
mutate(BLD_EXT = replace_na(BLD_EXT, "N")) %>%
mutate(landuse = replace_na(landuse, "Unknown"))We’re left with 4 NAs in zoning fields out of 94 options
and the significant missingness of ASP, or Average Sale
Price, which is ok because we’ll only use that to interpret our model
results or run the model to predict on just the subset with sales
data.
df4 %>%
is.na() %>%
colSums() %>%
.[. > 0]## ZONING zonedist1 ASP
## 1 3 11389Correlation Matrix
The correlation matrix is turning up a lot of extreme correlation. So
we removed a lot of labeling like ZIP_CODE and
YEAR, and duplicates like longitude and
xcoord.
Note we also took out cd, council,
policeprct and the two health care districts, because while
they are numbers, they are factors or labels, not quantitative
values.
Interestingly there is very little correlation to year of alteration
(YRALT1 YRALT2), except a slight negative
correlation between the first year of alteration and
FINMKTTOT which could suggest owners who are able to
rebuild buildings have the sophistication to protest, appeal or lobby
for smaller market value assessments from the DOF, or possibly had tax
incentives to
Many variables are highly correlated with each other, such as GROSS_SQFT, RESIDENTIAL_AREA_GROSS, and UNITS so we may need to handle multicollinearity.
Also, Average Sale Price has very low correlation with
FINMKTTOT, and while this may be because we need to create
a new field of average sale price times number of units, it could also
indicate that this tax assessment process is truly diverged from market
realities.
# Define the columns to exclude
exclude_cols <- c("bbl", "PARID", "BLOCK", "bctcb2020", "bct2020",
"latitude", "longitude", "ycoord", "xcoord", "LOT", "BORO", "YEAR",
"COOP_APTS", "firm07_flag", "pfirm15_flag", "LOT_DEP", "FINTAXCLASS", "ZIP_CODE", "LOT_FRT", "BLD_FRT", "BLD_DEP", "cd", "council", "policeprct", "healthcenterdistrict", "healtharea")
# Create correlation matrix excluding those columns
correlations <- cor(
df4[, sapply(df4, is.numeric) & !names(df4) %in% exclude_cols],
use = "pairwise.complete.obs"
)
# Plot the correlations
corrplot::corrplot(correlations, method = "square", type = "upper", order = "original", tl.cex = 0.6, tl.srt = 45)
Clean Dataset for Modeling
We’ve identified a number of variables to remove before modeling with linear regression so we take that step now.
Aliasing
Also, there are a number of the qualitative fields that have
aliasing, where their values are linearly dependent on each other so we
cannot include them with modeling. We add them to the columns to exclude
below iteratively as they appear in the alias() test
below.
# Define the columns to exclude
exclude_cols_lrmodel <- c("bbl", "PARID", "BLOCK", "LOT", "bctcb2020", "bct2020",
"latitude", "longitude", "ycoord", "xcoord", "BORO", "YEAR",
"COOP_APTS", "firm07_flag", "pfirm15_flag", "LOT_DEP", "FINTAXCLASS", "ZIP_CODE", "LOT_FRT", "BLD_FRT", "BLD_DEP", "cd", "council", "policeprct", "healthcenterdistrict", "healtharea", "spdist1", "firecomp", "zonedist1", "bldgclass", "landuse", "tract2010", "RESIDENTIAL_AREA_GROSS", "residfar", "commfar", "facilfar")
df5 <- df4 %>%
dplyr::select(-all_of(exclude_cols_lrmodel))
lm_model_test <- lm(FINMKTTOT ~ ., data = df5)
alias(lm_model_test)$Complete## NULLMulticollinearity
Our Variance Inflation Factors (VIF) indicate there is still yet
multicollinearity in our data, with RESIDENTIAL_AREA_GROSS,
residfar, commfar and facilfar,
which we’ve already removed.
We should be concerned with UNITS at 5.956,
LAND_AREA at 4.499, and GROSS_SQFT at 3.218;
and monitor BLD_STORY at 2.792 and builtfar at
2.690; however we’ll review the linear regression model summary
first.
lm_model <- lm(FINMKTTOT ~ ., data = df5)
vif_values <- car::vif(lm_model)
vif_values## GVIF Df GVIF^(1/(2*Df))
## BLDG_CLASS 8.367716e+01 13 1.185622
## ZONING 1.307562e+07 69 1.126078
## LOT_IRREG 1.513449e+00 2 1.109154
## BLD_EXT 1.419274e+00 3 1.060094
## BLD_STORY 7.796284e+00 1 2.792183
## CORNER 1.939321e+00 1 1.392595
## LAND_AREA 2.024974e+01 1 4.499971
## NUM_BLDGS 3.042013e+00 1 1.744137
## YRBUILT 2.332567e+00 1 1.527274
## YRALT1 1.210281e+00 1 1.100128
## YRALT2 1.223977e+00 1 1.106335
## UNITS 3.548436e+01 1 5.956875
## GROSS_SQFT 1.036134e+01 1 3.218904
## OFFICE_AREA_GROSS 1.242231e+00 1 1.114554
## FINTAXFLAG 1.206629e+00 1 1.098467
## schooldist 2.412102e+01 5 1.374800
## ltdheight 1.271544e+01 2 1.888352
## easements 1.261585e+00 1 1.123203
## histdist 1.650867e+07 51 1.176960
## landmark 2.875365e+00 1 1.695690
## builtfar 7.239698e+00 1 2.690669
## ASP 1.766568e+00 1 1.329123Linear Regression Model Summary
The model is strong, with an Adjusted R-squared of 0.956. This suggests to us that the DOF may use linear regression as their statistical model, or that we’re overfit because of a number of near multicollinear variables measuring different facets of building size.
Almost every zoning label and building class are highly significant, this supports the domain knowledge that zoning and building class have a huge impact on the capitalization rate selected for determining the market value of a Class 2 property. It may be that when we look for comparables we should always look for properties with the same zoning and building class.
Being a landmark or historic district building doesn’t seem to impact market tax assessment. This makes sense because it wasn’t included as part of the DOF’s PVAD database but rather layered on with the PLUTO data. Also, they may handle different taxation for landmark or historic district buildings at the exemption and abatement level, after the market value has been assessed.
Even though year built (YRBUILT, YRALT1 and
YRALT2), CORNER and LOT_IRREG are
listed on the DOF’s annual individual statements with the development of
their taxable property value, they and BLD_EXT don’t appear
to have an impact on assessed market value.
Variables related to size such as GROSS_SQFT,
UNITS, OFFICE_AREA_GROSS and
builtfar are all significant for predicting assessed market
value however they may be overlapping, which we will consider along with
overfitting in our final XGBoost model.
summary(lm_model)##
## Call:
## lm(formula = FINMKTTOT ~ ., data = df5)
##
## Residuals:
## Min 1Q Median 3Q Max
## -132838164 -2835402 -79981 2736015 58882393
##
## Coefficients:
## Estimate
## (Intercept) 3.595e+07
## BLDG_CLASSC4 -1.818e+06
## BLDG_CLASSC5 -1.495e+06
## BLDG_CLASSC6 -1.696e+06
## BLDG_CLASSC7 -1.421e+06
## BLDG_CLASSD0 -4.396e+06
## BLDG_CLASSD1 -3.529e+06
## BLDG_CLASSD3 -6.391e+06
## BLDG_CLASSD4 -5.396e+06
## BLDG_CLASSD5 -1.554e+06
## BLDG_CLASSD6 -4.768e+06
## BLDG_CLASSD7 -8.161e+06
## BLDG_CLASSD8 -2.169e+07
## BLDG_CLASSD9 -9.016e+05
## ZONINGC1-6 -5.743e+07
## ZONINGC1-7 -5.056e+07
## ZONINGC1-8 -5.619e+07
## ZONINGC1-9 -5.918e+07
## ZONINGC16A -5.621e+07
## ZONINGC17A -5.680e+07
## ZONINGC18A -5.901e+07
## ZONINGC18X -5.669e+07
## ZONINGC19A -5.466e+07
## ZONINGC2-6 -5.474e+07
## ZONINGC2-7 -5.486e+07
## ZONINGC2-8 -5.694e+07
## ZONINGC26A -5.614e+07
## ZONINGC27A -5.930e+07
## ZONINGC28A -5.695e+07
## ZONINGC4-4 -5.365e+07
## ZONINGC4-5 -5.967e+07
## ZONINGC4-7 -5.141e+07
## ZONINGC44A -5.672e+07
## ZONINGC44D -5.289e+07
## ZONINGC45A -5.634e+07
## ZONINGC46A -5.497e+07
## ZONINGC5-1 -4.992e+07
## ZONINGC5-2 -5.520e+07
## ZONINGC5-3 -5.310e+07
## ZONINGC5-5 -6.427e+07
## ZONINGC5-P -5.822e+07
## ZONINGC51A -5.679e+07
## ZONINGC52.5 -5.600e+07
## ZONINGC6-1 -5.409e+07
## ZONINGC6-2 -5.248e+07
## ZONINGC6-2G -3.883e+07
## ZONINGC6-4 -6.029e+07
## ZONINGC6-6 -5.353e+07
## ZONINGC6-7 -5.702e+07
## ZONINGC62A -5.459e+07
## ZONINGC62G -6.080e+07
## ZONINGC62M -5.087e+07
## ZONINGC63A -5.337e+07
## ZONINGC63X -5.668e+07
## ZONINGC64.5 -5.889e+07
## ZONINGC64A -5.663e+07
## ZONINGC64M -5.445e+07
## ZONINGC64X -6.025e+07
## ZONINGC66.5 -5.411e+07
## ZONINGC8-4 -5.658e+07
## ZONINGM1-5 -5.247e+07
## ZONINGM1-6 -5.406e+07
## ZONINGM15M -5.708e+07
## ZONINGM15R7D -5.500e+07
## ZONINGM15R7X -5.075e+07
## ZONINGM15R9A -5.149e+07
## ZONINGM15R9X -5.322e+07
## ZONINGM16D -6.243e+07
## ZONINGR10 -5.599e+07
## ZONINGR10A -5.672e+07
## ZONINGR10H -5.753e+07
## ZONINGR6 -5.979e+07
## ZONINGR6A -5.187e+07
## ZONINGR7-2 -5.960e+07
## ZONINGR7A -5.564e+07
## ZONINGR7B -5.664e+07
## ZONINGR7D -5.278e+07
## ZONINGR8 -5.885e+07
## ZONINGR8A -5.723e+07
## ZONINGR8B -5.640e+07
## ZONINGR9 -5.999e+07
## ZONINGR9A -5.940e+07
## ZONINGR9X -5.706e+07
## LOT_IRREGR -2.088e+05
## LOT_IRREGUnknown 6.283e+06
## BLD_EXTEG 1.376e+06
## BLD_EXTG 4.302e+06
## BLD_EXTN 7.431e+05
## BLD_STORY 6.171e+05
## CORNERYes 7.109e+05
## LAND_AREA 2.020e+01
## NUM_BLDGS -1.276e+06
## YRBUILT 9.134e+03
## YRALT1 4.005e+02
## YRALT2 2.981e+02
## UNITS 3.328e+04
## GROSS_SQFT 1.636e+02
## OFFICE_AREA_GROSS 3.463e+02
## FINTAXFLAGT 1.334e+06
## schooldist02 5.853e+06
## schooldist03 4.424e+06
## schooldist04 2.077e+06
## schooldist05 -2.533e+05
## schooldist06 -1.493e+06
## ltdheightLH-1A 7.803e+06
## ltdheightNone 4.990e+06
## easements 8.590e+06
## histdistCarnegie Hill Historic District 4.562e+06
## histdistCentral Harlem West -- 130-132nd Street Historic District 1.470e+07
## histdistCentral Park West-76th Street Historic District 4.809e+06
## histdistCentral Park West-West 73rd - 74th Street Historic District 1.216e+07
## histdistCharlton-King-Vandam Historic District 8.373e+06
## histdistChelsea Historic District 5.105e+06
## histdistChelsea Historic District Extension 2.763e+06
## histdistDorrance Brooks Square Historic District 1.315e+07
## histdistEast Village / Lower East Side Historic District 6.919e+06
## histdistExpanded Carnegie Hill Historic District 7.919e+06
## histdistGansevoort Market Historic District 9.198e+06
## histdistGramercy Park Historic District 1.039e+07
## histdistGreenwich Village Historic District 9.103e+06
## histdistGreenwich Village Historic District Extension 1.196e+07
## histdistGreenwich Village Historic District Extension II 7.063e+06
## histdistHamilton Heights / Sugar Hill Historic District 6.548e+06
## histdistHamilton Heights / Sugar Hill Northeast Historic District 7.079e+05
## histdistHamilton Heights / Sugar Hill Northwest Historic District 2.987e+06
## histdistHamilton Heights Historic District Extension 1.708e+06
## histdistIndividual Landmark -7.860e+06
## histdistLadies' Mile Historic District 5.585e+06
## histdistLamartine Place Historic District 4.252e+06
## histdistMadison Square North Historic District 6.415e+06
## histdistMetropolitan Museum Historic District 9.494e+06
## histdistMorningside Heights Historic District 9.969e+05
## histdistMount Morris Park Historic District 1.987e+06
## histdistMount Morris Park Historic District Extension 8.822e+06
## histdistMurray Hill Historic District -1.285e+06
## histdistMurray Hill Historic District Extension 1.238e+06
## histdistNoHo East Historic District -1.816e+06
## histdistNoHo Historic District 1.259e+06
## histdistNone 4.780e+06
## histdistPark Avenue Historic District 6.549e+06
## histdistRiverside-West End Historic District 1.161e+06
## histdistRiverside-West End Historic District Extension I 3.252e+06
## histdistRiverside-West End Historic District Extension II -1.330e+06
## histdistSoHo-Cast Iron Historic District 2.839e+06
## histdistSoHo-Cast Iron Historic District Extension 6.410e+06
## histdistSouth Village Historic District 9.398e+06
## histdistSt. Mark's Historic District 1.675e+07
## histdistStuyvesant Square Historic District 5.821e+06
## histdistSullivan-Thompson Historic District 6.866e+06
## histdistTribeca East Historic District 2.998e+06
## histdistTribeca West Historic District 3.120e+06
## histdistTudor City Historic District -3.944e+06
## histdistUpper East Side Historic District 6.709e+06
## histdistUpper East Side Historic District Extension 5.496e+06
## histdistUpper West Side / Central Park West Historic District 8.049e+06
## histdistWeehawken Street Historic District 5.103e+05
## histdistWest End-Collegiate Historic District 7.719e+06
## histdistWest End-Collegiate Historic District Extension 3.860e+06
## landmarkNone -1.352e+07
## builtfar 2.741e+05
## ASP 7.409e-02
## Std. Error
## (Intercept) 2.802e+07
## BLDG_CLASSC4 2.070e+06
## BLDG_CLASSC5 2.126e+06
## BLDG_CLASSC6 1.431e+06
## BLDG_CLASSC7 1.552e+06
## BLDG_CLASSD0 1.970e+06
## BLDG_CLASSD1 2.248e+06
## BLDG_CLASSD3 2.940e+06
## BLDG_CLASSD4 1.403e+06
## BLDG_CLASSD5 5.891e+06
## BLDG_CLASSD6 2.472e+06
## BLDG_CLASSD7 2.892e+06
## BLDG_CLASSD8 8.825e+06
## BLDG_CLASSD9 2.854e+06
## ZONINGC1-6 1.095e+07
## ZONINGC1-7 1.091e+07
## ZONINGC1-8 1.206e+07
## ZONINGC1-9 1.070e+07
## ZONINGC16A 1.084e+07
## ZONINGC17A 1.337e+07
## ZONINGC18A 1.087e+07
## ZONINGC18X 1.075e+07
## ZONINGC19A 1.091e+07
## ZONINGC2-6 1.128e+07
## ZONINGC2-7 1.343e+07
## ZONINGC2-8 1.076e+07
## ZONINGC26A 1.168e+07
## ZONINGC27A 1.098e+07
## ZONINGC28A 1.120e+07
## ZONINGC4-4 1.171e+07
## ZONINGC4-5 1.177e+07
## ZONINGC4-7 1.129e+07
## ZONINGC44A 1.099e+07
## ZONINGC44D 1.240e+07
## ZONINGC45A 1.341e+07
## ZONINGC46A 1.084e+07
## ZONINGC5-1 1.076e+07
## ZONINGC5-2 1.036e+07
## ZONINGC5-3 1.098e+07
## ZONINGC5-5 1.139e+07
## ZONINGC5-P 1.124e+07
## ZONINGC51A 1.348e+07
## ZONINGC52.5 1.164e+07
## ZONINGC6-1 1.098e+07
## ZONINGC6-2 1.080e+07
## ZONINGC6-2G 1.536e+07
## ZONINGC6-4 1.098e+07
## ZONINGC6-6 1.159e+07
## ZONINGC6-7 1.339e+07
## ZONINGC62A 1.084e+07
## ZONINGC62G 1.166e+07
## ZONINGC62M 1.123e+07
## ZONINGC63A 1.100e+07
## ZONINGC63X 1.334e+07
## ZONINGC64.5 1.160e+07
## ZONINGC64A 1.114e+07
## ZONINGC64M 1.144e+07
## ZONINGC64X 1.346e+07
## ZONINGC66.5 1.336e+07
## ZONINGC8-4 1.206e+07
## ZONINGM1-5 1.338e+07
## ZONINGM1-6 1.092e+07
## ZONINGM15M 1.261e+07
## ZONINGM15R7D 1.485e+07
## ZONINGM15R7X 1.209e+07
## ZONINGM15R9A 1.576e+07
## ZONINGM15R9X 1.246e+07
## ZONINGM16D 1.337e+07
## ZONINGR10 1.066e+07
## ZONINGR10A 1.066e+07
## ZONINGR10H 1.121e+07
## ZONINGR6 1.085e+07
## ZONINGR6A 1.142e+07
## ZONINGR7-2 1.066e+07
## ZONINGR7A 1.068e+07
## ZONINGR7B 1.076e+07
## ZONINGR7D 1.144e+07
## ZONINGR8 1.064e+07
## ZONINGR8A 1.074e+07
## ZONINGR8B 1.062e+07
## ZONINGR9 1.086e+07
## ZONINGR9A 1.082e+07
## ZONINGR9X 1.127e+07
## LOT_IRREGR 4.867e+05
## LOT_IRREGUnknown 4.851e+06
## BLD_EXTEG 8.269e+06
## BLD_EXTG 2.110e+06
## BLD_EXTN 8.866e+05
## BLD_STORY 8.012e+04
## CORNERYes 5.309e+05
## LAND_AREA 8.437e+00
## NUM_BLDGS 2.674e+05
## YRBUILT 1.233e+04
## YRALT1 2.156e+02
## YRALT2 3.992e+02
## UNITS 5.286e+03
## GROSS_SQFT 3.548e+00
## OFFICE_AREA_GROSS 6.849e+01
## FINTAXFLAGT 4.775e+05
## schooldist02 1.145e+06
## schooldist03 1.359e+06
## schooldist04 2.521e+06
## schooldist05 1.589e+06
## schooldist06 1.396e+06
## ltdheightLH-1A 9.308e+06
## ltdheightNone 9.185e+06
## easements 3.459e+06
## histdistCarnegie Hill Historic District 7.640e+06
## histdistCentral Harlem West -- 130-132nd Street Historic District 9.685e+06
## histdistCentral Park West-76th Street Historic District 9.566e+06
## histdistCentral Park West-West 73rd - 74th Street Historic District 6.796e+06
## histdistCharlton-King-Vandam Historic District 9.748e+06
## histdistChelsea Historic District 6.184e+06
## histdistChelsea Historic District Extension 7.778e+06
## histdistDorrance Brooks Square Historic District 9.700e+06
## histdistEast Village / Lower East Side Historic District 5.899e+06
## histdistExpanded Carnegie Hill Historic District 5.066e+06
## histdistGansevoort Market Historic District 9.816e+06
## histdistGramercy Park Historic District 9.702e+06
## histdistGreenwich Village Historic District 5.224e+06
## histdistGreenwich Village Historic District Extension 9.720e+06
## histdistGreenwich Village Historic District Extension II 6.204e+06
## histdistHamilton Heights / Sugar Hill Historic District 7.565e+06
## histdistHamilton Heights / Sugar Hill Northeast Historic District 6.240e+06
## histdistHamilton Heights / Sugar Hill Northwest Historic District 7.936e+06
## histdistHamilton Heights Historic District Extension 8.596e+06
## histdistIndividual Landmark 5.982e+06
## histdistLadies' Mile Historic District 6.775e+06
## histdistLamartine Place Historic District 9.508e+06
## histdistMadison Square North Historic District 1.019e+07
## histdistMetropolitan Museum Historic District 5.526e+06
## histdistMorningside Heights Historic District 5.233e+06
## histdistMount Morris Park Historic District 9.638e+06
## histdistMount Morris Park Historic District Extension 7.790e+06
## histdistMurray Hill Historic District 7.635e+06
## histdistMurray Hill Historic District Extension 9.499e+06
## histdistNoHo East Historic District 8.226e+06
## histdistNoHo Historic District 1.120e+07
## histdistNone 4.852e+06
## histdistPark Avenue Historic District 5.123e+06
## histdistRiverside-West End Historic District 5.147e+06
## histdistRiverside-West End Historic District Extension I 5.097e+06
## histdistRiverside-West End Historic District Extension II 5.029e+06
## histdistSoHo-Cast Iron Historic District 7.758e+06
## histdistSoHo-Cast Iron Historic District Extension 8.114e+06
## histdistSouth Village Historic District 6.225e+06
## histdistSt. Mark's Historic District 9.629e+06
## histdistStuyvesant Square Historic District 7.009e+06
## histdistSullivan-Thompson Historic District 5.831e+06
## histdistTribeca East Historic District 7.789e+06
## histdistTribeca West Historic District 6.284e+06
## histdistTudor City Historic District 5.651e+06
## histdistUpper East Side Historic District 5.032e+06
## histdistUpper East Side Historic District Extension 5.478e+06
## histdistUpper West Side / Central Park West Historic District 4.968e+06
## histdistWeehawken Street Historic District 9.735e+06
## histdistWest End-Collegiate Historic District 5.942e+06
## histdistWest End-Collegiate Historic District Extension 5.101e+06
## landmarkNone 2.625e+06
## builtfar 1.254e+05
## ASP 2.756e-02
## t value
## (Intercept) 1.283
## BLDG_CLASSC4 -0.878
## BLDG_CLASSC5 -0.703
## BLDG_CLASSC6 -1.184
## BLDG_CLASSC7 -0.915
## BLDG_CLASSD0 -2.232
## BLDG_CLASSD1 -1.570
## BLDG_CLASSD3 -2.174
## BLDG_CLASSD4 -3.845
## BLDG_CLASSD5 -0.264
## BLDG_CLASSD6 -1.929
## BLDG_CLASSD7 -2.822
## BLDG_CLASSD8 -2.458
## BLDG_CLASSD9 -0.316
## ZONINGC1-6 -5.245
## ZONINGC1-7 -4.634
## ZONINGC1-8 -4.658
## ZONINGC1-9 -5.533
## ZONINGC16A -5.184
## ZONINGC17A -4.248
## ZONINGC18A -5.427
## ZONINGC18X -5.275
## ZONINGC19A -5.009
## ZONINGC2-6 -4.854
## ZONINGC2-7 -4.085
## ZONINGC2-8 -5.294
## ZONINGC26A -4.807
## ZONINGC27A -5.403
## ZONINGC28A -5.086
## ZONINGC4-4 -4.583
## ZONINGC4-5 -5.071
## ZONINGC4-7 -4.554
## ZONINGC44A -5.163
## ZONINGC44D -4.265
## ZONINGC45A -4.200
## ZONINGC46A -5.071
## ZONINGC5-1 -4.641
## ZONINGC5-2 -5.326
## ZONINGC5-3 -4.836
## ZONINGC5-5 -5.642
## ZONINGC5-P -5.178
## ZONINGC51A -4.212
## ZONINGC52.5 -4.810
## ZONINGC6-1 -4.926
## ZONINGC6-2 -4.858
## ZONINGC6-2G -2.528
## ZONINGC6-4 -5.488
## ZONINGC6-6 -4.620
## ZONINGC6-7 -4.259
## ZONINGC62A -5.036
## ZONINGC62G -5.214
## ZONINGC62M -4.529
## ZONINGC63A -4.851
## ZONINGC63X -4.250
## ZONINGC64.5 -5.075
## ZONINGC64A -5.086
## ZONINGC64M -4.761
## ZONINGC64X -4.476
## ZONINGC66.5 -4.049
## ZONINGC8-4 -4.689
## ZONINGM1-5 -3.922
## ZONINGM1-6 -4.949
## ZONINGM15M -4.525
## ZONINGM15R7D -3.704
## ZONINGM15R7X -4.199
## ZONINGM15R9A -3.268
## ZONINGM15R9X -4.271
## ZONINGM16D -4.669
## ZONINGR10 -5.251
## ZONINGR10A -5.323
## ZONINGR10H -5.130
## ZONINGR6 -5.509
## ZONINGR6A -4.542
## ZONINGR7-2 -5.590
## ZONINGR7A -5.210
## ZONINGR7B -5.267
## ZONINGR7D -4.616
## ZONINGR8 -5.533
## ZONINGR8A -5.331
## ZONINGR8B -5.311
## ZONINGR9 -5.523
## ZONINGR9A -5.489
## ZONINGR9X -5.065
## LOT_IRREGR -0.429
## LOT_IRREGUnknown 1.295
## BLD_EXTEG 0.166
## BLD_EXTG 2.039
## BLD_EXTN 0.838
## BLD_STORY 7.703
## CORNERYes 1.339
## LAND_AREA 2.395
## NUM_BLDGS -4.774
## YRBUILT 0.741
## YRALT1 1.857
## YRALT2 0.747
## UNITS 6.295
## GROSS_SQFT 46.117
## OFFICE_AREA_GROSS 5.057
## FINTAXFLAGT 2.793
## schooldist02 5.112
## schooldist03 3.255
## schooldist04 0.824
## schooldist05 -0.159
## schooldist06 -1.070
## ltdheightLH-1A 0.838
## ltdheightNone 0.543
## easements 2.484
## histdistCarnegie Hill Historic District 0.597
## histdistCentral Harlem West -- 130-132nd Street Historic District 1.518
## histdistCentral Park West-76th Street Historic District 0.503
## histdistCentral Park West-West 73rd - 74th Street Historic District 1.790
## histdistCharlton-King-Vandam Historic District 0.859
## histdistChelsea Historic District 0.826
## histdistChelsea Historic District Extension 0.355
## histdistDorrance Brooks Square Historic District 1.356
## histdistEast Village / Lower East Side Historic District 1.173
## histdistExpanded Carnegie Hill Historic District 1.563
## histdistGansevoort Market Historic District 0.937
## histdistGramercy Park Historic District 1.071
## histdistGreenwich Village Historic District 1.743
## histdistGreenwich Village Historic District Extension 1.230
## histdistGreenwich Village Historic District Extension II 1.138
## histdistHamilton Heights / Sugar Hill Historic District 0.866
## histdistHamilton Heights / Sugar Hill Northeast Historic District 0.113
## histdistHamilton Heights / Sugar Hill Northwest Historic District 0.376
## histdistHamilton Heights Historic District Extension 0.199
## histdistIndividual Landmark -1.314
## histdistLadies' Mile Historic District 0.824
## histdistLamartine Place Historic District 0.447
## histdistMadison Square North Historic District 0.629
## histdistMetropolitan Museum Historic District 1.718
## histdistMorningside Heights Historic District 0.191
## histdistMount Morris Park Historic District 0.206
## histdistMount Morris Park Historic District Extension 1.132
## histdistMurray Hill Historic District -0.168
## histdistMurray Hill Historic District Extension 0.130
## histdistNoHo East Historic District -0.221
## histdistNoHo Historic District 0.112
## histdistNone 0.985
## histdistPark Avenue Historic District 1.278
## histdistRiverside-West End Historic District 0.226
## histdistRiverside-West End Historic District Extension I 0.638
## histdistRiverside-West End Historic District Extension II -0.264
## histdistSoHo-Cast Iron Historic District 0.366
## histdistSoHo-Cast Iron Historic District Extension 0.790
## histdistSouth Village Historic District 1.510
## histdistSt. Mark's Historic District 1.740
## histdistStuyvesant Square Historic District 0.831
## histdistSullivan-Thompson Historic District 1.178
## histdistTribeca East Historic District 0.385
## histdistTribeca West Historic District 0.497
## histdistTudor City Historic District -0.698
## histdistUpper East Side Historic District 1.333
## histdistUpper East Side Historic District Extension 1.003
## histdistUpper West Side / Central Park West Historic District 1.620
## histdistWeehawken Street Historic District 0.052
## histdistWest End-Collegiate Historic District 1.299
## histdistWest End-Collegiate Historic District Extension 0.757
## landmarkNone -5.150
## builtfar 2.186
## ASP 2.688
## Pr(>|t|)
## (Intercept) 0.199754
## BLDG_CLASSC4 0.379931
## BLDG_CLASSC5 0.481864
## BLDG_CLASSC6 0.236395
## BLDG_CLASSC7 0.360224
## BLDG_CLASSD0 0.025766
## BLDG_CLASSD1 0.116702
## BLDG_CLASSD3 0.029852
## BLDG_CLASSD4 0.000125
## BLDG_CLASSD5 0.791908
## BLDG_CLASSD6 0.053875
## BLDG_CLASSD7 0.004826
## BLDG_CLASSD8 0.014068
## BLDG_CLASSD9 0.752099
## ZONINGC1-6 1.76e-07
## ZONINGC1-7 3.84e-06
## ZONINGC1-8 3.42e-06
## ZONINGC1-9 3.62e-08
## ZONINGC16A 2.43e-07
## ZONINGC17A 2.26e-05
## ZONINGC18A 6.53e-08
## ZONINGC18X 1.49e-07
## ZONINGC19A 6.02e-07
## ZONINGC2-6 1.32e-06
## ZONINGC2-7 4.60e-05
## ZONINGC2-8 1.35e-07
## ZONINGC26A 1.66e-06
## ZONINGC27A 7.44e-08
## ZONINGC28A 4.04e-07
## ZONINGC4-4 4.90e-06
## ZONINGC4-5 4.38e-07
## ZONINGC4-7 5.62e-06
## ZONINGC44A 2.71e-07
## ZONINGC44D 2.11e-05
## ZONINGC45A 2.80e-05
## ZONINGC46A 4.36e-07
## ZONINGC5-1 3.72e-06
## ZONINGC5-2 1.13e-07
## ZONINGC5-3 1.44e-06
## ZONINGC5-5 1.95e-08
## ZONINGC5-P 2.50e-07
## ZONINGC51A 2.66e-05
## ZONINGC52.5 1.64e-06
## ZONINGC6-1 9.17e-07
## ZONINGC6-2 1.29e-06
## ZONINGC6-2G 0.011546
## ZONINGC6-4 4.65e-08
## ZONINGC6-6 4.12e-06
## ZONINGC6-7 2.16e-05
## ZONINGC62A 5.23e-07
## ZONINGC62G 2.06e-07
## ZONINGC62M 6.33e-06
## ZONINGC63A 1.34e-06
## ZONINGC63X 2.25e-05
## ZONINGC64.5 4.29e-07
## ZONINGC64A 4.05e-07
## ZONINGC64M 2.09e-06
## ZONINGC64X 8.11e-06
## ZONINGC66.5 5.37e-05
## ZONINGC8-4 2.95e-06
## ZONINGM1-5 9.12e-05
## ZONINGM1-6 8.17e-07
## ZONINGM15M 6.44e-06
## ZONINGM15R7D 0.000218
## ZONINGM15R7X 2.82e-05
## ZONINGM15R9A 0.001105
## ZONINGM15R9X 2.05e-05
## ZONINGM16D 3.25e-06
## ZONINGR10 1.70e-07
## ZONINGR10A 1.15e-07
## ZONINGR10H 3.22e-07
## ZONINGR6 4.15e-08
## ZONINGR6A 5.94e-06
## ZONINGR7-2 2.63e-08
## ZONINGR7A 2.11e-07
## ZONINGR7B 1.56e-07
## ZONINGR7D 4.20e-06
## ZONINGR8 3.62e-08
## ZONINGR8A 1.10e-07
## ZONINGR8B 1.23e-07
## ZONINGR9 3.82e-08
## ZONINGR9A 4.62e-08
## ZONINGR9X 4.52e-07
## LOT_IRREGR 0.667920
## LOT_IRREGUnknown 0.195409
## BLD_EXTEG 0.867870
## BLD_EXTG 0.041601
## BLD_EXTN 0.402047
## BLD_STORY 2.21e-14
## CORNERYes 0.180764
## LAND_AREA 0.016744
## NUM_BLDGS 1.96e-06
## YRBUILT 0.459044
## YRALT1 0.063474
## YRALT2 0.455324
## UNITS 3.87e-10
## GROSS_SQFT < 2e-16
## OFFICE_AREA_GROSS 4.71e-07
## FINTAXFLAGT 0.005276
## schooldist02 3.54e-07
## schooldist03 0.001154
## schooldist04 0.410228
## schooldist05 0.873379
## schooldist06 0.284921
## ltdheightLH-1A 0.401973
## ltdheightNone 0.586977
## easements 0.013098
## histdistCarnegie Hill Historic District 0.550446
## histdistCentral Harlem West -- 130-132nd Street Historic District 0.129277
## histdistCentral Park West-76th Street Historic District 0.615239
## histdistCentral Park West-West 73rd - 74th Street Historic District 0.073661
## histdistCharlton-King-Vandam Historic District 0.390482
## histdistChelsea Historic District 0.409171
## histdistChelsea Historic District Extension 0.722421
## histdistDorrance Brooks Square Historic District 0.175242
## histdistEast Village / Lower East Side Historic District 0.240957
## histdistExpanded Carnegie Hill Historic District 0.118171
## histdistGansevoort Market Historic District 0.348849
## histdistGramercy Park Historic District 0.284305
## histdistGreenwich Village Historic District 0.081579
## histdistGreenwich Village Historic District Extension 0.218885
## histdistGreenwich Village Historic District Extension II 0.255110
## histdistHamilton Heights / Sugar Hill Historic District 0.386844
## histdistHamilton Heights / Sugar Hill Northeast Historic District 0.909688
## histdistHamilton Heights / Sugar Hill Northwest Historic District 0.706670
## histdistHamilton Heights Historic District Extension 0.842482
## histdistIndividual Landmark 0.189045
## histdistLadies' Mile Historic District 0.409877
## histdistLamartine Place Historic District 0.654789
## histdistMadison Square North Historic District 0.529225
## histdistMetropolitan Museum Historic District 0.085989
## histdistMorningside Heights Historic District 0.848933
## histdistMount Morris Park Historic District 0.836678
## histdistMount Morris Park Historic District Extension 0.257621
## histdistMurray Hill Historic District 0.866362
## histdistMurray Hill Historic District Extension 0.896315
## histdistNoHo East Historic District 0.825351
## histdistNoHo Historic District 0.910522
## histdistNone 0.324644
## histdistPark Avenue Historic District 0.201290
## histdistRiverside-West End Historic District 0.821569
## histdistRiverside-West End Historic District Extension I 0.523532
## histdistRiverside-West End Historic District Extension II 0.791441
## histdistSoHo-Cast Iron Historic District 0.714416
## histdistSoHo-Cast Iron Historic District Extension 0.429633
## histdistSouth Village Historic District 0.131306
## histdistSt. Mark's Historic District 0.082110
## histdistStuyvesant Square Historic District 0.406368
## histdistSullivan-Thompson Historic District 0.239126
## histdistTribeca East Historic District 0.700405
## histdistTribeca West Historic District 0.619566
## histdistTudor City Historic District 0.485265
## histdistUpper East Side Historic District 0.182664
## histdistUpper East Side Historic District Extension 0.315858
## histdistUpper West Side / Central Park West Historic District 0.105390
## histdistWeehawken Street Historic District 0.958204
## histdistWest End-Collegiate Historic District 0.194053
## histdistWest End-Collegiate Historic District Extension 0.449373
## landmarkNone 2.89e-07
## builtfar 0.028922
## ASP 0.007255
##
## (Intercept)
## BLDG_CLASSC4
## BLDG_CLASSC5
## BLDG_CLASSC6
## BLDG_CLASSC7
## BLDG_CLASSD0 *
## BLDG_CLASSD1
## BLDG_CLASSD3 *
## BLDG_CLASSD4 ***
## BLDG_CLASSD5
## BLDG_CLASSD6 .
## BLDG_CLASSD7 **
## BLDG_CLASSD8 *
## BLDG_CLASSD9
## ZONINGC1-6 ***
## ZONINGC1-7 ***
## ZONINGC1-8 ***
## ZONINGC1-9 ***
## ZONINGC16A ***
## ZONINGC17A ***
## ZONINGC18A ***
## ZONINGC18X ***
## ZONINGC19A ***
## ZONINGC2-6 ***
## ZONINGC2-7 ***
## ZONINGC2-8 ***
## ZONINGC26A ***
## ZONINGC27A ***
## ZONINGC28A ***
## ZONINGC4-4 ***
## ZONINGC4-5 ***
## ZONINGC4-7 ***
## ZONINGC44A ***
## ZONINGC44D ***
## ZONINGC45A ***
## ZONINGC46A ***
## ZONINGC5-1 ***
## ZONINGC5-2 ***
## ZONINGC5-3 ***
## ZONINGC5-5 ***
## ZONINGC5-P ***
## ZONINGC51A ***
## ZONINGC52.5 ***
## ZONINGC6-1 ***
## ZONINGC6-2 ***
## ZONINGC6-2G *
## ZONINGC6-4 ***
## ZONINGC6-6 ***
## ZONINGC6-7 ***
## ZONINGC62A ***
## ZONINGC62G ***
## ZONINGC62M ***
## ZONINGC63A ***
## ZONINGC63X ***
## ZONINGC64.5 ***
## ZONINGC64A ***
## ZONINGC64M ***
## ZONINGC64X ***
## ZONINGC66.5 ***
## ZONINGC8-4 ***
## ZONINGM1-5 ***
## ZONINGM1-6 ***
## ZONINGM15M ***
## ZONINGM15R7D ***
## ZONINGM15R7X ***
## ZONINGM15R9A **
## ZONINGM15R9X ***
## ZONINGM16D ***
## ZONINGR10 ***
## ZONINGR10A ***
## ZONINGR10H ***
## ZONINGR6 ***
## ZONINGR6A ***
## ZONINGR7-2 ***
## ZONINGR7A ***
## ZONINGR7B ***
## ZONINGR7D ***
## ZONINGR8 ***
## ZONINGR8A ***
## ZONINGR8B ***
## ZONINGR9 ***
## ZONINGR9A ***
## ZONINGR9X ***
## LOT_IRREGR
## LOT_IRREGUnknown
## BLD_EXTEG
## BLD_EXTG *
## BLD_EXTN
## BLD_STORY ***
## CORNERYes
## LAND_AREA *
## NUM_BLDGS ***
## YRBUILT
## YRALT1 .
## YRALT2
## UNITS ***
## GROSS_SQFT ***
## OFFICE_AREA_GROSS ***
## FINTAXFLAGT **
## schooldist02 ***
## schooldist03 **
## schooldist04
## schooldist05
## schooldist06
## ltdheightLH-1A
## ltdheightNone
## easements *
## histdistCarnegie Hill Historic District
## histdistCentral Harlem West -- 130-132nd Street Historic District
## histdistCentral Park West-76th Street Historic District
## histdistCentral Park West-West 73rd - 74th Street Historic District .
## histdistCharlton-King-Vandam Historic District
## histdistChelsea Historic District
## histdistChelsea Historic District Extension
## histdistDorrance Brooks Square Historic District
## histdistEast Village / Lower East Side Historic District
## histdistExpanded Carnegie Hill Historic District
## histdistGansevoort Market Historic District
## histdistGramercy Park Historic District
## histdistGreenwich Village Historic District .
## histdistGreenwich Village Historic District Extension
## histdistGreenwich Village Historic District Extension II
## histdistHamilton Heights / Sugar Hill Historic District
## histdistHamilton Heights / Sugar Hill Northeast Historic District
## histdistHamilton Heights / Sugar Hill Northwest Historic District
## histdistHamilton Heights Historic District Extension
## histdistIndividual Landmark
## histdistLadies' Mile Historic District
## histdistLamartine Place Historic District
## histdistMadison Square North Historic District
## histdistMetropolitan Museum Historic District .
## histdistMorningside Heights Historic District
## histdistMount Morris Park Historic District
## histdistMount Morris Park Historic District Extension
## histdistMurray Hill Historic District
## histdistMurray Hill Historic District Extension
## histdistNoHo East Historic District
## histdistNoHo Historic District
## histdistNone
## histdistPark Avenue Historic District
## histdistRiverside-West End Historic District
## histdistRiverside-West End Historic District Extension I
## histdistRiverside-West End Historic District Extension II
## histdistSoHo-Cast Iron Historic District
## histdistSoHo-Cast Iron Historic District Extension
## histdistSouth Village Historic District
## histdistSt. Mark's Historic District .
## histdistStuyvesant Square Historic District
## histdistSullivan-Thompson Historic District
## histdistTribeca East Historic District
## histdistTribeca West Historic District
## histdistTudor City Historic District
## histdistUpper East Side Historic District
## histdistUpper East Side Historic District Extension
## histdistUpper West Side / Central Park West Historic District
## histdistWeehawken Street Historic District
## histdistWest End-Collegiate Historic District
## histdistWest End-Collegiate Historic District Extension
## landmarkNone ***
## builtfar *
## ASP **
## ---
## Signif. codes: 0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1
##
## Residual standard error: 8133000 on 1762 degrees of freedom
## (11389 observations deleted due to missingness)
## Multiple R-squared: 0.9593, Adjusted R-squared: 0.9556
## F-statistic: 259.3 on 160 and 1762 DF, p-value: < 2.2e-16Residual Analysis
We check the Q-Q plot and it’s clear that we have heteroscedasticity because residuals don’t have equal variance across low to high values.
This suggests, which is typical of financial modeling, that we should
have taken the log of FINMKTTOT which we will do, along
with check out the one extreme outlier, record 6230.
plot(lm_model)
Log Transformation
While taking the log of assessed market value lowered the R-squared from 0.956 to 0.884, the residuals are much better behaved as seen in the quartile table below. Since the median is close to zero in the log model we can move forward with establishing confidence in our logged model.
| Residuals | Before | Logged |
|---|---|---|
| Min | -132838164 | -3.9551 |
| 1Q | -2835402 | -0.2127 |
| Median | -79981 | -.0038 |
| 3Q | 2736015 | 0.2372 |
| Max | 58882393 | 1.3260 |
Note since we’re looking at a logged target value our coefficients
are multiplicative instead of additive, also known as elasticities. For
example, the coefficients of GROSS_SQFT was 3.548 meaning
each additional square foot adds $3.55 in assessed market value, while
in the logged model the 3.1e-06 coefficient says that each additional
square foot ads 0.0003% to assessed value. T
lm_model_log <- lm(log(FINMKTTOT) ~ ., data = df5)
summary(lm_model_log)##
## Call:
## lm(formula = log(FINMKTTOT) ~ ., data = df5)
##
## Residuals:
## Min 1Q Median 3Q Max
## -3.9551 -0.2127 0.0038 0.2372 1.3260
##
## Coefficients:
## Estimate
## (Intercept) 7.524e+00
## BLDG_CLASSC4 -4.712e-02
## BLDG_CLASSC5 -1.270e-01
## BLDG_CLASSC6 1.206e-01
## BLDG_CLASSC7 1.725e-01
## BLDG_CLASSD0 1.103e+00
## BLDG_CLASSD1 5.385e-01
## BLDG_CLASSD3 4.793e-01
## BLDG_CLASSD4 9.821e-01
## BLDG_CLASSD5 3.535e-01
## BLDG_CLASSD6 4.531e-01
## BLDG_CLASSD7 7.493e-01
## BLDG_CLASSD8 -1.600e-01
## BLDG_CLASSD9 8.362e-01
## ZONINGC1-6 -1.218e+00
## ZONINGC1-7 -1.064e+00
## ZONINGC1-8 -1.426e+00
## ZONINGC1-9 -1.355e+00
## ZONINGC16A -1.303e+00
## ZONINGC17A -1.376e+00
## ZONINGC18A -1.353e+00
## ZONINGC18X -1.277e+00
## ZONINGC19A -1.295e+00
## ZONINGC2-6 -1.086e+00
## ZONINGC2-7 -1.079e+00
## ZONINGC2-8 -1.427e+00
## ZONINGC26A -9.905e-01
## ZONINGC27A -1.318e+00
## ZONINGC28A -1.231e+00
## ZONINGC4-4 -8.901e-01
## ZONINGC4-5 -1.387e+00
## ZONINGC4-7 -1.071e+00
## ZONINGC44A -1.216e+00
## ZONINGC44D -1.106e+00
## ZONINGC45A -1.333e+00
## ZONINGC46A -9.349e-01
## ZONINGC5-1 -1.162e+00
## ZONINGC5-2 -1.215e+00
## ZONINGC5-3 -1.160e+00
## ZONINGC5-5 -1.823e+00
## ZONINGC5-P -1.101e+00
## ZONINGC51A -1.292e+00
## ZONINGC52.5 -1.244e+00
## ZONINGC6-1 -1.317e+00
## ZONINGC6-2 -1.133e+00
## ZONINGC6-2G -3.363e-01
## ZONINGC6-4 -1.434e+00
## ZONINGC6-6 -1.262e+00
## ZONINGC6-7 -9.306e-01
## ZONINGC62A -1.168e+00
## ZONINGC62G -1.251e+00
## ZONINGC62M -1.119e+00
## ZONINGC63A -1.265e+00
## ZONINGC63X -8.552e-01
## ZONINGC64.5 -1.596e+00
## ZONINGC64A -1.315e+00
## ZONINGC64M -1.015e+00
## ZONINGC64X -1.413e+00
## ZONINGC66.5 -8.247e-01
## ZONINGC8-4 -1.390e+00
## ZONINGM1-5 -1.054e+00
## ZONINGM1-6 -1.176e+00
## ZONINGM15M -1.401e+00
## ZONINGM15R7D -1.337e+00
## ZONINGM15R7X -1.232e+00
## ZONINGM15R9A -6.085e-01
## ZONINGM15R9X -1.360e+00
## ZONINGM16D -1.599e+00
## ZONINGR10 -1.227e+00
## ZONINGR10A -1.179e+00
## ZONINGR10H -1.337e+00
## ZONINGR6 -1.322e+00
## ZONINGR6A -2.132e+00
## ZONINGR7-2 -1.323e+00
## ZONINGR7A -1.495e+00
## ZONINGR7B -1.349e+00
## ZONINGR7D -1.876e+00
## ZONINGR8 -1.328e+00
## ZONINGR8A -1.361e+00
## ZONINGR8B -1.326e+00
## ZONINGR9 -1.159e+00
## ZONINGR9A -1.213e+00
## ZONINGR9X -1.229e+00
## LOT_IRREGR -6.537e-02
## LOT_IRREGUnknown 2.084e-02
## BLD_EXTEG 1.481e-01
## BLD_EXTG 3.453e-01
## BLD_EXTN 1.213e-01
## BLD_STORY 1.837e-02
## CORNERYes 1.898e-01
## LAND_AREA -4.812e-06
## NUM_BLDGS 8.287e-02
## YRBUILT 4.210e-03
## YRALT1 -1.487e-05
## YRALT2 6.059e-05
## UNITS 8.847e-04
## GROSS_SQFT 3.118e-06
## OFFICE_AREA_GROSS 7.833e-06
## FINTAXFLAGT 1.319e-01
## schooldist02 -8.149e-03
## schooldist03 -2.858e-01
## schooldist04 -6.026e-01
## schooldist05 -6.367e-01
## schooldist06 -5.629e-01
## ltdheightLH-1A 5.396e-01
## ltdheightNone 3.770e-01
## easements -4.129e-01
## histdistCarnegie Hill Historic District -5.690e-01
## histdistCentral Harlem West -- 130-132nd Street Historic District -8.295e-01
## histdistCentral Park West-76th Street Historic District -2.799e-01
## histdistCentral Park West-West 73rd - 74th Street Historic District -2.074e-01
## histdistCharlton-King-Vandam Historic District -4.710e-01
## histdistChelsea Historic District -5.486e-01
## histdistChelsea Historic District Extension -6.043e-01
## histdistDorrance Brooks Square Historic District -1.372e+00
## histdistEast Village / Lower East Side Historic District -5.636e-01
## histdistExpanded Carnegie Hill Historic District -3.484e-01
## histdistGansevoort Market Historic District -9.540e-01
## histdistGramercy Park Historic District -2.196e-01
## histdistGreenwich Village Historic District -3.731e-01
## histdistGreenwich Village Historic District Extension 1.873e-01
## histdistGreenwich Village Historic District Extension II -5.290e-01
## histdistHamilton Heights / Sugar Hill Historic District -9.411e-01
## histdistHamilton Heights / Sugar Hill Northeast Historic District 4.111e-02
## histdistHamilton Heights / Sugar Hill Northwest Historic District 9.396e-02
## histdistHamilton Heights Historic District Extension 5.134e-02
## histdistIndividual Landmark -5.797e-02
## histdistLadies' Mile Historic District -4.513e-01
## histdistLamartine Place Historic District -2.060e-01
## histdistMadison Square North Historic District -4.658e-01
## histdistMetropolitan Museum Historic District -2.644e-01
## histdistMorningside Heights Historic District -4.679e-01
## histdistMount Morris Park Historic District -2.656e-01
## histdistMount Morris Park Historic District Extension -5.834e-01
## histdistMurray Hill Historic District -4.480e-01
## histdistMurray Hill Historic District Extension -3.282e-01
## histdistNoHo East Historic District -7.272e-01
## histdistNoHo Historic District -1.055e+00
## histdistNone -4.527e-01
## histdistPark Avenue Historic District -2.640e-01
## histdistRiverside-West End Historic District -3.367e-01
## histdistRiverside-West End Historic District Extension I -3.964e-01
## histdistRiverside-West End Historic District Extension II -5.162e-01
## histdistSoHo-Cast Iron Historic District -3.876e-01
## histdistSoHo-Cast Iron Historic District Extension -3.456e-01
## histdistSouth Village Historic District -4.014e-01
## histdistSt. Mark's Historic District 2.650e-01
## histdistStuyvesant Square Historic District -7.666e-01
## histdistSullivan-Thompson Historic District -3.249e-01
## histdistTribeca East Historic District -6.999e-01
## histdistTribeca West Historic District -7.742e-01
## histdistTudor City Historic District -5.684e-01
## histdistUpper East Side Historic District -3.748e-01
## histdistUpper East Side Historic District Extension -3.482e-01
## histdistUpper West Side / Central Park West Historic District -1.369e-01
## histdistWeehawken Street Historic District -1.525e+00
## histdistWest End-Collegiate Historic District -1.750e-01
## histdistWest End-Collegiate Historic District Extension -2.826e-01
## landmarkNone 5.887e-02
## builtfar 5.182e-02
## ASP 4.844e-09
## Std. Error
## (Intercept) 1.425e+00
## BLDG_CLASSC4 1.053e-01
## BLDG_CLASSC5 1.081e-01
## BLDG_CLASSC6 7.282e-02
## BLDG_CLASSC7 7.898e-02
## BLDG_CLASSD0 1.002e-01
## BLDG_CLASSD1 1.144e-01
## BLDG_CLASSD3 1.496e-01
## BLDG_CLASSD4 7.139e-02
## BLDG_CLASSD5 2.997e-01
## BLDG_CLASSD6 1.257e-01
## BLDG_CLASSD7 1.471e-01
## BLDG_CLASSD8 4.489e-01
## BLDG_CLASSD9 1.452e-01
## ZONINGC1-6 5.570e-01
## ZONINGC1-7 5.550e-01
## ZONINGC1-8 6.136e-01
## ZONINGC1-9 5.441e-01
## ZONINGC16A 5.516e-01
## ZONINGC17A 6.801e-01
## ZONINGC18A 5.531e-01
## ZONINGC18X 5.467e-01
## ZONINGC19A 5.551e-01
## ZONINGC2-6 5.737e-01
## ZONINGC2-7 6.831e-01
## ZONINGC2-8 5.472e-01
## ZONINGC26A 5.942e-01
## ZONINGC27A 5.583e-01
## ZONINGC28A 5.696e-01
## ZONINGC4-4 5.955e-01
## ZONINGC4-5 5.986e-01
## ZONINGC4-7 5.743e-01
## ZONINGC44A 5.589e-01
## ZONINGC44D 6.309e-01
## ZONINGC45A 6.824e-01
## ZONINGC46A 5.514e-01
## ZONINGC5-1 5.471e-01
## ZONINGC5-2 5.272e-01
## ZONINGC5-3 5.586e-01
## ZONINGC5-5 5.794e-01
## ZONINGC5-P 5.719e-01
## ZONINGC51A 6.860e-01
## ZONINGC52.5 5.923e-01
## ZONINGC6-1 5.585e-01
## ZONINGC6-2 5.494e-01
## ZONINGC6-2G 7.813e-01
## ZONINGC6-4 5.588e-01
## ZONINGC6-6 5.894e-01
## ZONINGC6-7 6.811e-01
## ZONINGC62A 5.514e-01
## ZONINGC62G 5.931e-01
## ZONINGC62M 5.714e-01
## ZONINGC63A 5.597e-01
## ZONINGC63X 6.784e-01
## ZONINGC64.5 5.903e-01
## ZONINGC64A 5.665e-01
## ZONINGC64M 5.818e-01
## ZONINGC64X 6.849e-01
## ZONINGC66.5 6.799e-01
## ZONINGC8-4 6.137e-01
## ZONINGM1-5 6.806e-01
## ZONINGM1-6 5.557e-01
## ZONINGM15M 6.417e-01
## ZONINGM15R7D 7.552e-01
## ZONINGM15R7X 6.148e-01
## ZONINGM15R9A 8.016e-01
## ZONINGM15R9X 6.339e-01
## ZONINGM16D 6.801e-01
## ZONINGR10 5.424e-01
## ZONINGR10A 5.421e-01
## ZONINGR10H 5.705e-01
## ZONINGR6 5.521e-01
## ZONINGR6A 5.809e-01
## ZONINGR7-2 5.424e-01
## ZONINGR7A 5.433e-01
## ZONINGR7B 5.471e-01
## ZONINGR7D 5.817e-01
## ZONINGR8 5.411e-01
## ZONINGR8A 5.461e-01
## ZONINGR8B 5.403e-01
## ZONINGR9 5.525e-01
## ZONINGR9A 5.505e-01
## ZONINGR9X 5.731e-01
## LOT_IRREGR 2.476e-02
## LOT_IRREGUnknown 2.468e-01
## BLD_EXTEG 4.206e-01
## BLD_EXTG 1.073e-01
## BLD_EXTN 4.510e-02
## BLD_STORY 4.076e-03
## CORNERYes 2.701e-02
## LAND_AREA 4.292e-07
## NUM_BLDGS 1.360e-02
## YRBUILT 6.274e-04
## YRALT1 1.097e-05
## YRALT2 2.031e-05
## UNITS 2.689e-04
## GROSS_SQFT 1.805e-07
## OFFICE_AREA_GROSS 3.484e-06
## FINTAXFLAGT 2.429e-02
## schooldist02 5.825e-02
## schooldist03 6.913e-02
## schooldist04 1.283e-01
## schooldist05 8.084e-02
## schooldist06 7.102e-02
## ltdheightLH-1A 4.735e-01
## ltdheightNone 4.672e-01
## easements 1.760e-01
## histdistCarnegie Hill Historic District 3.886e-01
## histdistCentral Harlem West -- 130-132nd Street Historic District 4.927e-01
## histdistCentral Park West-76th Street Historic District 4.866e-01
## histdistCentral Park West-West 73rd - 74th Street Historic District 3.457e-01
## histdistCharlton-King-Vandam Historic District 4.959e-01
## histdistChelsea Historic District 3.146e-01
## histdistChelsea Historic District Extension 3.956e-01
## histdistDorrance Brooks Square Historic District 4.934e-01
## histdistEast Village / Lower East Side Historic District 3.001e-01
## histdistExpanded Carnegie Hill Historic District 2.577e-01
## histdistGansevoort Market Historic District 4.993e-01
## histdistGramercy Park Historic District 4.936e-01
## histdistGreenwich Village Historic District 2.657e-01
## histdistGreenwich Village Historic District Extension 4.945e-01
## histdistGreenwich Village Historic District Extension II 3.156e-01
## histdistHamilton Heights / Sugar Hill Historic District 3.848e-01
## histdistHamilton Heights / Sugar Hill Northeast Historic District 3.174e-01
## histdistHamilton Heights / Sugar Hill Northwest Historic District 4.037e-01
## histdistHamilton Heights Historic District Extension 4.373e-01
## histdistIndividual Landmark 3.043e-01
## histdistLadies' Mile Historic District 3.446e-01
## histdistLamartine Place Historic District 4.837e-01
## histdistMadison Square North Historic District 5.185e-01
## histdistMetropolitan Museum Historic District 2.811e-01
## histdistMorningside Heights Historic District 2.662e-01
## histdistMount Morris Park Historic District 4.903e-01
## histdistMount Morris Park Historic District Extension 3.963e-01
## histdistMurray Hill Historic District 3.884e-01
## histdistMurray Hill Historic District Extension 4.832e-01
## histdistNoHo East Historic District 4.185e-01
## histdistNoHo Historic District 5.698e-01
## histdistNone 2.468e-01
## histdistPark Avenue Historic District 2.606e-01
## histdistRiverside-West End Historic District 2.618e-01
## histdistRiverside-West End Historic District Extension I 2.593e-01
## histdistRiverside-West End Historic District Extension II 2.558e-01
## histdistSoHo-Cast Iron Historic District 3.946e-01
## histdistSoHo-Cast Iron Historic District Extension 4.128e-01
## histdistSouth Village Historic District 3.167e-01
## histdistSt. Mark's Historic District 4.898e-01
## histdistStuyvesant Square Historic District 3.566e-01
## histdistSullivan-Thompson Historic District 2.966e-01
## histdistTribeca East Historic District 3.963e-01
## histdistTribeca West Historic District 3.197e-01
## histdistTudor City Historic District 2.875e-01
## histdistUpper East Side Historic District 2.560e-01
## histdistUpper East Side Historic District Extension 2.787e-01
## histdistUpper West Side / Central Park West Historic District 2.527e-01
## histdistWeehawken Street Historic District 4.952e-01
## histdistWest End-Collegiate Historic District 3.023e-01
## histdistWest End-Collegiate Historic District Extension 2.595e-01
## landmarkNone 1.336e-01
## builtfar 6.377e-03
## ASP 1.402e-09
## t value
## (Intercept) 5.278
## BLDG_CLASSC4 -0.447
## BLDG_CLASSC5 -1.175
## BLDG_CLASSC6 1.657
## BLDG_CLASSC7 2.184
## BLDG_CLASSD0 11.012
## BLDG_CLASSD1 4.708
## BLDG_CLASSD3 3.205
## BLDG_CLASSD4 13.756
## BLDG_CLASSD5 1.180
## BLDG_CLASSD6 3.603
## BLDG_CLASSD7 5.094
## BLDG_CLASSD8 -0.356
## BLDG_CLASSD9 5.760
## ZONINGC1-6 -2.187
## ZONINGC1-7 -1.917
## ZONINGC1-8 -2.324
## ZONINGC1-9 -2.490
## ZONINGC16A -2.362
## ZONINGC17A -2.023
## ZONINGC18A -2.446
## ZONINGC18X -2.336
## ZONINGC19A -2.332
## ZONINGC2-6 -1.894
## ZONINGC2-7 -1.580
## ZONINGC2-8 -2.608
## ZONINGC26A -1.667
## ZONINGC27A -2.361
## ZONINGC28A -2.161
## ZONINGC4-4 -1.495
## ZONINGC4-5 -2.318
## ZONINGC4-7 -1.864
## ZONINGC44A -2.176
## ZONINGC44D -1.753
## ZONINGC45A -1.954
## ZONINGC46A -1.695
## ZONINGC5-1 -2.123
## ZONINGC5-2 -2.305
## ZONINGC5-3 -2.076
## ZONINGC5-5 -3.147
## ZONINGC5-P -1.924
## ZONINGC51A -1.884
## ZONINGC52.5 -2.100
## ZONINGC6-1 -2.358
## ZONINGC6-2 -2.063
## ZONINGC6-2G -0.430
## ZONINGC6-4 -2.566
## ZONINGC6-6 -2.141
## ZONINGC6-7 -1.366
## ZONINGC62A -2.119
## ZONINGC62G -2.109
## ZONINGC62M -1.958
## ZONINGC63A -2.261
## ZONINGC63X -1.261
## ZONINGC64.5 -2.703
## ZONINGC64A -2.322
## ZONINGC64M -1.745
## ZONINGC64X -2.063
## ZONINGC66.5 -1.213
## ZONINGC8-4 -2.266
## ZONINGM1-5 -1.549
## ZONINGM1-6 -2.116
## ZONINGM15M -2.183
## ZONINGM15R7D -1.771
## ZONINGM15R7X -2.004
## ZONINGM15R9A -0.759
## ZONINGM15R9X -2.146
## ZONINGM16D -2.351
## ZONINGR10 -2.262
## ZONINGR10A -2.175
## ZONINGR10H -2.344
## ZONINGR6 -2.395
## ZONINGR6A -3.670
## ZONINGR7-2 -2.439
## ZONINGR7A -2.752
## ZONINGR7B -2.466
## ZONINGR7D -3.225
## ZONINGR8 -2.454
## ZONINGR8A -2.492
## ZONINGR8B -2.454
## ZONINGR9 -2.098
## ZONINGR9A -2.204
## ZONINGR9X -2.145
## LOT_IRREGR -2.640
## LOT_IRREGUnknown 0.084
## BLD_EXTEG 0.352
## BLD_EXTG 3.217
## BLD_EXTN 2.690
## BLD_STORY 4.508
## CORNERYes 7.029
## LAND_AREA -11.213
## NUM_BLDGS 6.093
## YRBUILT 6.709
## YRALT1 -1.355
## YRALT2 2.984
## UNITS 3.290
## GROSS_SQFT 17.274
## OFFICE_AREA_GROSS 2.248
## FINTAXFLAGT 5.428
## schooldist02 -0.140
## schooldist03 -4.134
## schooldist04 -4.698
## schooldist05 -7.877
## schooldist06 -7.926
## ltdheightLH-1A 1.140
## ltdheightNone 0.807
## easements -2.347
## histdistCarnegie Hill Historic District -1.464
## histdistCentral Harlem West -- 130-132nd Street Historic District -1.684
## histdistCentral Park West-76th Street Historic District -0.575
## histdistCentral Park West-West 73rd - 74th Street Historic District -0.600
## histdistCharlton-King-Vandam Historic District -0.950
## histdistChelsea Historic District -1.744
## histdistChelsea Historic District Extension -1.527
## histdistDorrance Brooks Square Historic District -2.780
## histdistEast Village / Lower East Side Historic District -1.878
## histdistExpanded Carnegie Hill Historic District -1.352
## histdistGansevoort Market Historic District -1.911
## histdistGramercy Park Historic District -0.445
## histdistGreenwich Village Historic District -1.404
## histdistGreenwich Village Historic District Extension 0.379
## histdistGreenwich Village Historic District Extension II -1.676
## histdistHamilton Heights / Sugar Hill Historic District -2.445
## histdistHamilton Heights / Sugar Hill Northeast Historic District 0.130
## histdistHamilton Heights / Sugar Hill Northwest Historic District 0.233
## histdistHamilton Heights Historic District Extension 0.117
## histdistIndividual Landmark -0.190
## histdistLadies' Mile Historic District -1.309
## histdistLamartine Place Historic District -0.426
## histdistMadison Square North Historic District -0.898
## histdistMetropolitan Museum Historic District -0.940
## histdistMorningside Heights Historic District -1.758
## histdistMount Morris Park Historic District -0.542
## histdistMount Morris Park Historic District Extension -1.472
## histdistMurray Hill Historic District -1.153
## histdistMurray Hill Historic District Extension -0.679
## histdistNoHo East Historic District -1.738
## histdistNoHo Historic District -1.852
## histdistNone -1.834
## histdistPark Avenue Historic District -1.013
## histdistRiverside-West End Historic District -1.286
## histdistRiverside-West End Historic District Extension I -1.529
## histdistRiverside-West End Historic District Extension II -2.018
## histdistSoHo-Cast Iron Historic District -0.982
## histdistSoHo-Cast Iron Historic District Extension -0.837
## histdistSouth Village Historic District -1.267
## histdistSt. Mark's Historic District 0.541
## histdistStuyvesant Square Historic District -2.150
## histdistSullivan-Thompson Historic District -1.095
## histdistTribeca East Historic District -1.766
## histdistTribeca West Historic District -2.422
## histdistTudor City Historic District -1.977
## histdistUpper East Side Historic District -1.464
## histdistUpper East Side Historic District Extension -1.250
## histdistUpper West Side / Central Park West Historic District -0.542
## histdistWeehawken Street Historic District -3.080
## histdistWest End-Collegiate Historic District -0.579
## histdistWest End-Collegiate Historic District Extension -1.089
## landmarkNone 0.441
## builtfar 8.126
## ASP 3.455
## Pr(>|t|)
## (Intercept) 1.47e-07
## BLDG_CLASSC4 0.654586
## BLDG_CLASSC5 0.240237
## BLDG_CLASSC6 0.097742
## BLDG_CLASSC7 0.029077
## BLDG_CLASSD0 < 2e-16
## BLDG_CLASSD1 2.69e-06
## BLDG_CLASSD3 0.001376
## BLDG_CLASSD4 < 2e-16
## BLDG_CLASSD5 0.238284
## BLDG_CLASSD6 0.000323
## BLDG_CLASSD7 3.89e-07
## BLDG_CLASSD8 0.721644
## BLDG_CLASSD9 9.91e-09
## ZONINGC1-6 0.028877
## ZONINGC1-7 0.055413
## ZONINGC1-8 0.020227
## ZONINGC1-9 0.012866
## ZONINGC16A 0.018300
## ZONINGC17A 0.043250
## ZONINGC18A 0.014549
## ZONINGC18X 0.019619
## ZONINGC19A 0.019791
## ZONINGC2-6 0.058436
## ZONINGC2-7 0.114370
## ZONINGC2-8 0.009184
## ZONINGC26A 0.095688
## ZONINGC27A 0.018318
## ZONINGC28A 0.030860
## ZONINGC4-4 0.135156
## ZONINGC4-5 0.020577
## ZONINGC4-7 0.062484
## ZONINGC44A 0.029686
## ZONINGC44D 0.079854
## ZONINGC45A 0.050876
## ZONINGC46A 0.090159
## ZONINGC5-1 0.033885
## ZONINGC5-2 0.021307
## ZONINGC5-3 0.038020
## ZONINGC5-5 0.001679
## ZONINGC5-P 0.054458
## ZONINGC51A 0.059761
## ZONINGC52.5 0.035851
## ZONINGC6-1 0.018497
## ZONINGC6-2 0.039301
## ZONINGC6-2G 0.666944
## ZONINGC6-4 0.010375
## ZONINGC6-6 0.032446
## ZONINGC6-7 0.172001
## ZONINGC62A 0.034241
## ZONINGC62G 0.035069
## ZONINGC62M 0.050357
## ZONINGC63A 0.023909
## ZONINGC63X 0.207585
## ZONINGC64.5 0.006931
## ZONINGC64A 0.020340
## ZONINGC64M 0.081146
## ZONINGC64X 0.039226
## ZONINGC66.5 0.225260
## ZONINGC8-4 0.023601
## ZONINGM1-5 0.121606
## ZONINGM1-6 0.034446
## ZONINGM15M 0.029137
## ZONINGM15R7D 0.076817
## ZONINGM15R7X 0.045223
## ZONINGM15R9A 0.447883
## ZONINGM15R9X 0.032000
## ZONINGM16D 0.018834
## ZONINGR10 0.023841
## ZONINGR10A 0.029751
## ZONINGR10H 0.019172
## ZONINGR6 0.016745
## ZONINGR6A 0.000249
## ZONINGR7-2 0.014815
## ZONINGR7A 0.005989
## ZONINGR7B 0.013776
## ZONINGR7D 0.001282
## ZONINGR8 0.014225
## ZONINGR8A 0.012800
## ZONINGR8B 0.014211
## ZONINGR9 0.036013
## ZONINGR9A 0.027639
## ZONINGR9X 0.032104
## LOT_IRREGR 0.008358
## LOT_IRREGUnknown 0.932705
## BLD_EXTEG 0.724744
## BLD_EXTG 0.001319
## BLD_EXTN 0.007208
## BLD_STORY 6.97e-06
## CORNERYes 2.96e-12
## LAND_AREA < 2e-16
## NUM_BLDGS 1.36e-09
## YRBUILT 2.63e-11
## YRALT1 0.175446
## YRALT2 0.002884
## UNITS 0.001023
## GROSS_SQFT < 2e-16
## OFFICE_AREA_GROSS 0.024695
## FINTAXFLAGT 6.50e-08
## schooldist02 0.888747
## schooldist03 3.73e-05
## schooldist04 2.83e-06
## schooldist05 5.83e-15
## schooldist06 3.98e-15
## ltdheightLH-1A 0.254623
## ltdheightNone 0.419918
## easements 0.019056
## histdistCarnegie Hill Historic District 0.143313
## histdistCentral Harlem West -- 130-132nd Street Historic District 0.092421
## histdistCentral Park West-76th Street Historic District 0.565201
## histdistCentral Park West-West 73rd - 74th Street Historic District 0.548609
## histdistCharlton-King-Vandam Historic District 0.342311
## histdistChelsea Historic District 0.081338
## histdistChelsea Historic District Extension 0.126837
## histdistDorrance Brooks Square Historic District 0.005489
## histdistEast Village / Lower East Side Historic District 0.060518
## histdistExpanded Carnegie Hill Historic District 0.176514
## histdistGansevoort Market Historic District 0.056224
## histdistGramercy Park Historic District 0.656481
## histdistGreenwich Village Historic District 0.160488
## histdistGreenwich Village Historic District Extension 0.704819
## histdistGreenwich Village Historic District Extension II 0.093900
## histdistHamilton Heights / Sugar Hill Historic District 0.014565
## histdistHamilton Heights / Sugar Hill Northeast Historic District 0.896968
## histdistHamilton Heights / Sugar Hill Northwest Historic District 0.815996
## histdistHamilton Heights Historic District Extension 0.906553
## histdistIndividual Landmark 0.848944
## histdistLadies' Mile Historic District 0.190567
## histdistLamartine Place Historic District 0.670220
## histdistMadison Square North Historic District 0.369179
## histdistMetropolitan Museum Historic District 0.347115
## histdistMorningside Heights Historic District 0.078950
## histdistMount Morris Park Historic District 0.588021
## histdistMount Morris Park Historic District Extension 0.141157
## histdistMurray Hill Historic District 0.248911
## histdistMurray Hill Historic District Extension 0.497114
## histdistNoHo East Historic District 0.082413
## histdistNoHo Historic District 0.064162
## histdistNone 0.066805
## histdistPark Avenue Historic District 0.311081
## histdistRiverside-West End Historic District 0.198612
## histdistRiverside-West End Historic District Extension I 0.126490
## histdistRiverside-West End Historic District Extension II 0.043752
## histdistSoHo-Cast Iron Historic District 0.326158
## histdistSoHo-Cast Iron Historic District Extension 0.402564
## histdistSouth Village Historic District 0.205192
## histdistSt. Mark's Historic District 0.588567
## histdistStuyvesant Square Historic District 0.031706
## histdistSullivan-Thompson Historic District 0.273505
## histdistTribeca East Historic District 0.077538
## histdistTribeca West Historic District 0.015546
## histdistTudor City Historic District 0.048155
## histdistUpper East Side Historic District 0.143390
## histdistUpper East Side Historic District Extension 0.211610
## histdistUpper West Side / Central Park West Historic District 0.588214
## histdistWeehawken Street Historic District 0.002103
## histdistWest End-Collegiate Historic District 0.562745
## histdistWest End-Collegiate Historic District Extension 0.276360
## landmarkNone 0.659408
## builtfar 8.27e-16
## ASP 0.000563
##
## (Intercept) ***
## BLDG_CLASSC4
## BLDG_CLASSC5
## BLDG_CLASSC6 .
## BLDG_CLASSC7 *
## BLDG_CLASSD0 ***
## BLDG_CLASSD1 ***
## BLDG_CLASSD3 **
## BLDG_CLASSD4 ***
## BLDG_CLASSD5
## BLDG_CLASSD6 ***
## BLDG_CLASSD7 ***
## BLDG_CLASSD8
## BLDG_CLASSD9 ***
## ZONINGC1-6 *
## ZONINGC1-7 .
## ZONINGC1-8 *
## ZONINGC1-9 *
## ZONINGC16A *
## ZONINGC17A *
## ZONINGC18A *
## ZONINGC18X *
## ZONINGC19A *
## ZONINGC2-6 .
## ZONINGC2-7
## ZONINGC2-8 **
## ZONINGC26A .
## ZONINGC27A *
## ZONINGC28A *
## ZONINGC4-4
## ZONINGC4-5 *
## ZONINGC4-7 .
## ZONINGC44A *
## ZONINGC44D .
## ZONINGC45A .
## ZONINGC46A .
## ZONINGC5-1 *
## ZONINGC5-2 *
## ZONINGC5-3 *
## ZONINGC5-5 **
## ZONINGC5-P .
## ZONINGC51A .
## ZONINGC52.5 *
## ZONINGC6-1 *
## ZONINGC6-2 *
## ZONINGC6-2G
## ZONINGC6-4 *
## ZONINGC6-6 *
## ZONINGC6-7
## ZONINGC62A *
## ZONINGC62G *
## ZONINGC62M .
## ZONINGC63A *
## ZONINGC63X
## ZONINGC64.5 **
## ZONINGC64A *
## ZONINGC64M .
## ZONINGC64X *
## ZONINGC66.5
## ZONINGC8-4 *
## ZONINGM1-5
## ZONINGM1-6 *
## ZONINGM15M *
## ZONINGM15R7D .
## ZONINGM15R7X *
## ZONINGM15R9A
## ZONINGM15R9X *
## ZONINGM16D *
## ZONINGR10 *
## ZONINGR10A *
## ZONINGR10H *
## ZONINGR6 *
## ZONINGR6A ***
## ZONINGR7-2 *
## ZONINGR7A **
## ZONINGR7B *
## ZONINGR7D **
## ZONINGR8 *
## ZONINGR8A *
## ZONINGR8B *
## ZONINGR9 *
## ZONINGR9A *
## ZONINGR9X *
## LOT_IRREGR **
## LOT_IRREGUnknown
## BLD_EXTEG
## BLD_EXTG **
## BLD_EXTN **
## BLD_STORY ***
## CORNERYes ***
## LAND_AREA ***
## NUM_BLDGS ***
## YRBUILT ***
## YRALT1
## YRALT2 **
## UNITS **
## GROSS_SQFT ***
## OFFICE_AREA_GROSS *
## FINTAXFLAGT ***
## schooldist02
## schooldist03 ***
## schooldist04 ***
## schooldist05 ***
## schooldist06 ***
## ltdheightLH-1A
## ltdheightNone
## easements *
## histdistCarnegie Hill Historic District
## histdistCentral Harlem West -- 130-132nd Street Historic District .
## histdistCentral Park West-76th Street Historic District
## histdistCentral Park West-West 73rd - 74th Street Historic District
## histdistCharlton-King-Vandam Historic District
## histdistChelsea Historic District .
## histdistChelsea Historic District Extension
## histdistDorrance Brooks Square Historic District **
## histdistEast Village / Lower East Side Historic District .
## histdistExpanded Carnegie Hill Historic District
## histdistGansevoort Market Historic District .
## histdistGramercy Park Historic District
## histdistGreenwich Village Historic District
## histdistGreenwich Village Historic District Extension
## histdistGreenwich Village Historic District Extension II .
## histdistHamilton Heights / Sugar Hill Historic District *
## histdistHamilton Heights / Sugar Hill Northeast Historic District
## histdistHamilton Heights / Sugar Hill Northwest Historic District
## histdistHamilton Heights Historic District Extension
## histdistIndividual Landmark
## histdistLadies' Mile Historic District
## histdistLamartine Place Historic District
## histdistMadison Square North Historic District
## histdistMetropolitan Museum Historic District
## histdistMorningside Heights Historic District .
## histdistMount Morris Park Historic District
## histdistMount Morris Park Historic District Extension
## histdistMurray Hill Historic District
## histdistMurray Hill Historic District Extension
## histdistNoHo East Historic District .
## histdistNoHo Historic District .
## histdistNone .
## histdistPark Avenue Historic District
## histdistRiverside-West End Historic District
## histdistRiverside-West End Historic District Extension I
## histdistRiverside-West End Historic District Extension II *
## histdistSoHo-Cast Iron Historic District
## histdistSoHo-Cast Iron Historic District Extension
## histdistSouth Village Historic District
## histdistSt. Mark's Historic District
## histdistStuyvesant Square Historic District *
## histdistSullivan-Thompson Historic District
## histdistTribeca East Historic District .
## histdistTribeca West Historic District *
## histdistTudor City Historic District *
## histdistUpper East Side Historic District
## histdistUpper East Side Historic District Extension
## histdistUpper West Side / Central Park West Historic District
## histdistWeehawken Street Historic District **
## histdistWest End-Collegiate Historic District
## histdistWest End-Collegiate Historic District Extension
## landmarkNone
## builtfar ***
## ASP ***
## ---
## Signif. codes: 0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1
##
## Residual standard error: 0.4137 on 1762 degrees of freedom
## (11389 observations deleted due to missingness)
## Multiple R-squared: 0.8938, Adjusted R-squared: 0.8842
## F-statistic: 92.68 on 160 and 1762 DF, p-value: < 2.2e-16Plot Residuals of Log Model
Here the logged model looks more homoskedastic, however apart from one outlier to the top right, it looks as if you could draw a downward sloping diagonal line with no points above it, this may be some of the systemic biases we’ve discussed being shown as a trade off between being taxed heavily but less heavily than expected based on the taxation burden of similar features at lower levels.
plot(predict(lm_model_log), residuals(lm_model_log))
Outlier
The outliers in the two models are different.
In the first model I noticed (record 6,230) from the residuals graphs, which as block 1373 lot 1 is the Roosevelt Island Lighthouse, but it doesn’t have ~8000 coop units as further listed. A little digging reveals the largest cooperative on Roosevelt Island is Rivercross with 365 units, so this may be a dud record that we can throw away for our final model.
which.max(abs(rstandard())) returned a second major
outlier in the first model, record 999. I looked up the block and lot
number (398/53) and it corresponds to 170 East 2nd Street, an ordinary
six-story walkup in East Village. It looks like it is slightly smaller
that comparable buildings but a relatively high tax. It could be that
the neighborhood and having commercial tenants on the ground floor could
justify their tax assessment but I may write their board a letter (or do
it through the CNYC as outreach for membership in the NYC Co-op group
lobbying on behalf of Co-ops in NYC.)
Record 63, the largest outlier in the logged model is a unique property, 10 buildings, forming gardened interior parks taking up a whole city block in the Financial District, 80 Gold Street has an enormous tax bill but it is a luxury community taking up a whole block in an expensive part of town. It stays as a valuable piece of data.
Record 7, the second largest outlier in the logged model is the Verdesian, a luxury building in Battery Park City. It also stays as a valuable piece of data.
which.max(abs(rstandard(lm_model_log)))## 63
## 7Next Steps
In the domain dive we learned that the NYC DOF has a different modeling process for Class 2 buildings with fewer than 10 units. I originally thought this meant I should create a field that acts as a flag for whether the building has 10 or more units, however because it’s a different process for calculating the estimated taxable market value we need to model the two sets of data in separate models.
The DOF also said they factored nearby buildings into their
statistical modeling. It wasn’t clear if those buildings were comparable
(similar zoning and building class) or just nearby. We can generate a
field like that by using KNN to derive the average assessed market
value, FINMKTTOT, of nearby buildings.
Additionally we may want to include ridge or lasso penalties to improve our results.
Otherwise, it looks like we’ve already reverse-engineered the city’s process for calculating these estimated taxable market values. The discrepancies in the form of residuals could point to tax inequities, even without assessing the relative fairness of differences in capitalization rates between different zoning and building class types.
We expect that the NYC DOF may have tech debt, byproducts of their build process, or legacy structures like doing certain calculations in batch, that might be making their tax assessments less fair than a new, from scratch, model. In a way the city is “billing” buildings for being a part of the city, and billing is often the same as the prior year plus some. If the city is approaching the assessments like a vendor does billing, there may be a lot of historical discrepancies being perpetuated. This too would also show up as discrepancies in the model.