The Market

Too low a price put on windtunnel rescue?

By A. Ready | October 19, 2010 - 12:30PM 

Will apartment dwellers in windy far-west Midtown have to choose between walking and the cross-town bus forever? Crain's New York reported yesterday that real estate industry types have agreed to put up $250,000 to win a $3 million federal grant toward extending the No. 7 subway line to West 41st Street and Tenth Avenue.   Hmmm...a quarter of a million seems like spare change, given that the real estate industry is calling the project "critical for the ongoing development of the West Side," according to Crain's. With the cheapest apartment for sale at the nearby Orion asking $575,000, shouldn't the subway initiative be worth at least that to the construction and real estate industry? (Crain's NY)

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