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.
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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