MTA crisis could be catastrophic for New York real estate

As goes New York’s transit system, so goes its real estate. And the system is on the brink of disaster. The Metropolitan Transportation Authority plans to cut service by 40 percent if Washington does not send $12 billion in federal aid, crippling the city’s chances to come back from the pandemic. The effects would be felt beyond New York as the city accounts for about 5 percent of the country’s GDP, said Bill Rudin, CEO

source https://therealdeal.com/2020/08/31/mta-crisis-could-be-catastrophic-for-new-york-real-estate/