Written by Linda Portney Goldstein: email@example.com Friday, 18 May 2012 00:00
“For Sale” signs have recently gone up in front of three houses on Pequot Avenue in Manhasset Isle. Each of the homes is in close proximity to the cell tower that was recently erected, in spite of community objection and attempts by Manorhaven Village to open a dialogue with the developer, AG Towers.
Often during recent village board meetings, local residents voiced concerns about the possible health risks posed by the cell tower, and the esthetic blight of living in the shadow of a 250-foot monopole, which looms over the modest one and two family homes adjacent to the tower site.
When asked about the impact of the cell tower on real estate values in the neighborhood, Ginny Pergola, a local realtor said, “It is my opinion that there is definitely a ‘stigma’ associated with a property that is in close proximity to one. It would most certainly diminish the value of a property where the cell tower is highly visible.”
Rich Evans of Appraisal Services, Inc., who primarily appraises commercial properties that include many apartment buildings, says in the case of apartment buildings where towers are often situated on roofs, there is actually an increase in property value since the cell tower provides a revenue stream. Evans says that in most cases, ground level towers are well camouflaged and although they are increasing in residential neighborhoods, they are usually not sited next to private homes. In his view, “The perception that property values will be decreased becomes a self-fulfilling prophecy.”
There is not much available in the way of statistics regarding the impact of cell phone towers on local real estate values. But as Evans pointed out, “They aren’t usually placed next to private homes.”