Urban street-level greenery is empirically documented to improve mental and physical health, increase productivity, increase urban environmental equality and reduce carbon footprints. In addition, these benefits raise residents’ welfare, which has been correlated with increases in residential house prices. We measure street-level greenness in New York City through a novel Green View Index (GVI) using Google Street View images, and assess the impacts of greenness on commercial real estate prices. Using a sample of office transactions, we spatially correlate Google Street View Images for New York City over the 2010 to 2017 period. We find an 8.9% to 10.5% statistically, economically and positive transaction premium and a 5.6% to 7.8% rent premium for offices with low to high street-level greenness relative to those building transactions spatially correlated with very low greenness. Estimations are robust t with proximity to parks, subway stations, sidewalk widths, household income levels and investments by Building Improvement Districts, as well as other vital and standard office valuation features. By documenting the role of greenery in commercial building valuations, our results give a more complete understanding of the value of greenness in urban environments, as well as the economic role that urban landscape architecture, planning and development has upon cities.

经验证明城市街道级绿化可改善身心健康、提高生产力、促进城市环境平等并减少碳足迹。此外，这些福利提高了居民的福利，这与住宅房价的上涨有关。我们使用谷歌街景图像通过新颖的绿色景观指数 (GVI) 衡量纽约市的街道绿化，并评估绿化对商业房地产价格的影响。使用办公室交易样本，我们将 2010 年至 2017 年期间纽约市的谷歌街景图像空间关联起来。我们发现统计上、经济上和正交易溢价为 8.9% 至 10.5%，以及 5.6% 至 7。相对于那些在空间上与非常低的绿度相关的建筑交易，具有低到高街道绿度的办公室的租金溢价为 8%。与公园、地铁站、人行道宽度、家庭收入水平和建筑改进区的投资以及其他重要和标准办公室估值特征的接近程度的估计是可靠的。通过记录绿色在商业建筑估值中的作用，我们的结果更全面地了解了绿色在城市环境中的价值，以及城市景观设计、规划和开发对城市的经济作用。以及其他重要和标准的办公室估值功能。通过记录绿色在商业建筑估值中的作用，我们的结果更全面地了解了绿色在城市环境中的价值，以及城市景观设计、规划和开发对城市的经济作用。以及其他重要和标准的办公室估值功能。通过记录绿色在商业建筑估值中的作用，我们的结果更全面地了解了绿色在城市环境中的价值，以及城市景观设计、规划和开发对城市的经济作用。