"Ever since August Belmont Jr. arranged the financing for a four-track 'underground railroad' more than a century ago, the subway has fueled New York City’s economy, delivering workers from homes in distant neighborhoods to jobs in Manhattan and enriching landlords and real estate developers near stations. Today, with the subway in precipitous decline and the city enjoying an economic boom, some policymakers think the time has come for the subway to profit from the financial benefits it provides, including its considerable contribution to property values. Proponents point to the Upper East Side of Manhattan, where co-op and condominium prices in a 10-block stretch near the Second Avenue subway have risen 6 percent since it opened in January 2017, according to figures from the Corcoran Group, a large real estate firm. ..."
NY Times
NY Times: Your Train Is Delayed. Why? (Video)
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