Tuesday, July 12, 2016

NYC Taxi Medallion Prices Averaged $550,000 for May and June

For the months of May and June, taxi medallion prices averaged $550,750 in New York City.

There were 10 transfers during the two months, of which 7 were foreclosures.


Taxi medallion prices ranged between $405,000 to $610,000. However, the $405,000 medallion transfer is possibly a data outlier.

These transactions indicate that credit unions with New York City taxi medallion loans will likely see an increase in delinquencies, troubled debt restructured loans, and charge-offs.



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3 comments:

  1. AnonymousJuly 12, 2016 at 8:24 AM

    2 medallion sales is not a market.
    They may have been sold beneficially to a buyer w common interest too btw.
    The only question remaining is when.
    When does state of ny force the issue w NCUA on millionaire Kaufman at melrose.

    ReplyDelete
  2. AnonymousJuly 15, 2016 at 11:23 AM

    Melrose CU Fires CEO Kaufman
    The $1.9 billion CU, which is involved in a lawsuit against the city of New York’s Taxi and Limousine Commission, declined to comment on the reasons for the firing.


    ReplyDelete
    Replies
    1. AnonymousJuly 17, 2016 at 9:21 AM

      If millionaire Kaufman can be fired for tanking a federally insured financial institution, can the NCUA be fired for gross supervisory NEGLIGENCE?
      Or is it the state of NY or both?
      Because my credit union's members don't want to pay the assessments that are coming.

      Delete

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