logo

NYC TLC Medallion Is Becoming The Worst Business In New York

TAGS:     

THEME:   NYC, NYC Taxi

By SisiBroad | April 7, 2016 7:32 pm

There were no medallions sales in January or February, 2016. It is kind of record by itself.  There were 2 (two) – not to make a mistake – in March 2016. According to Taxi and Limousine Commotion of NYC one for $580,000 and one for $520,000, so it save to say that the last month medallion price is $550,000 which is just the same as it was back in 2008.

Taxi Is Becoming The Worst Business In New York

Taxi Is Becoming The Worst Business In New York

Most important characteristic is owner turnover. Let’s compare.

  • 2015 – 15 “independent unrestricted” (individual) medallions sold, including 8 medallions were foreclosure sales.
  • 2012 – more than 100 individual medallions sold in 2012, and zero (0) were foreclosures.

This downfall came as a result of sales of additional yellow medallions back three years ago. Plus creation of green (brought) taxi. And these all are coincided with eruption so called “Uber effect”. Actually “Uber effect” it is out of nowhere appearance, and most important all of a sudden, competition from Uber, but also Lyft, Via, Gett, Arcade City, Chariot for Women, etc.

With last two years progression we should expect price for NYC TLS medallions must come to $200,000 at the most $300,000 before 2016 ends.

Not good. No good for investment at all.

top_banner PRINT THIS

Comments are closed.

  • PLACE YOUR LISTINGS
  • RED LIGHT CAMERAS

  • MTA UPDATES

  • rek1
  • rek2
  • OUR WRITERS

    SokSok
    Jan OvlandJan Ovland
    Ann TyllerAnn Tyller
    SisiBroadSisiBroad
    Dan BartDan Bart
    Serge KSerge K
  • RSS Top News

    • Volatile weather situation for SW Virginia over next 2 days - Roanoke Times May 27, 2017
      Roanoke TimesVolatile weather situation for SW Virginia over next 2 daysRoanoke TimesOne HRRR short-range model depiction shows 3 clusters of storms -- one that has moved past to near the coast, one having moved just past Roanoke, and a larger one to the west -- late this evening. The exact location and timing of storms […]
    • 2 fatally stabbed on Oregon train after trying to stop man's anti-Muslim rants, police say - Washington Post May 27, 2017
      Washington Post2 fatally stabbed on Oregon train after trying to stop man's anti-Muslim rants, police sayWashington PostTwo men were stabbed to death Friday on a light-rail train in Portland, Ore., after they tried to intervene when another passenger began “ranting and raving” and shouting anti-Muslim hate speech at two young women, police said. According to […]
    • Trump adviser: 'I would not be concerned' about a Russia back channel, irrespective of Kushner - Washington Post May 27, 2017
      Washington PostTrump adviser: 'I would not be concerned' about a Russia back channel, irrespective of KushnerWashington PostTAORMINA, Italy -- President Trump's National Security Adviser H.R. McMaster said Saturday he "would not be concerned" about having a back-channel communications system with Russia, though he and other top White House officials refused to comment ...Two top Trump advisers […]
    • The Latest: France's Macron urges Trump: Stay in Paris pact - Washington Post May 27, 2017
      Washington PostThe Latest: France's Macron urges Trump: Stay in Paris pactWashington PostTAORMINA, Sicily — The Latest on Group of Seven summit (all times local):. 5:10 p.m.. After a two-day summit in Italy, French President Emmanuel Macron had warm words for Donald Trump, despite the fact the U.S. president did not join in with other ...Leaders […]
    • The Manchester Bombing and Why the Battle Against ISIS Won't End With Iraq and Syria - Newsweek May 27, 2017
      NewsweekThe Manchester Bombing and Why the Battle Against ISIS Won't End With Iraq and SyriaNewsweekOrlando, Nice, Paris, Brussels, Berlin, Würzburg, Ansbach, Munich, London—and now Manchester. The pattern is becoming depressingly familiar. The news breaks with blurry cellphone footage—pedestrians strolling on a seaside promenade, shoppers ...Britain's Terror Threat Level Reduced to 'Severe' After Raids Linked to Manchester […]
  • RSS NYC Latest News


  •