Friday, January 20, 2017

Q4 2016 NYC Taxi Medallion Prices Averaged Almost $520,000

New York City taxi medallion prices averaged almost $520 thousand during the fourth quarter of 2016, according to information from the New York City Taxi and Limousine Commission.

However, this average taxi medallion price was based upon a small sample.

There were six transactions during the three month period with a non-zero value. Three transfers were foreclosures and two involved estate transfers.

Medallion transfer prices ranged from a high of $600,000 to a low of $387,717.60.

This would indicate that credit unions with outstanding New York City taxi medallion loans will probably need to reduce the outstanding principal on these loans.

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