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It seems logical to think since more people are paying to ride the subway, the MTA must be making more money. Right? Well, kinda. Despite a peak in subway use—the MTA recorded four record-high ridership days last month—transit authority faces a $15 billion budget gap for next year, which it may need to fill by borrowing cash if state lawmakers don't approve its proposed capital funding campaign. If the MTA borrows money to finance...
The median sales price for real estate in Brooklyn has climbed to $587,515 this quarter, up 8.8 percent over $540,000 in the third quarter of 2007. That cool $540k was, of course, cresting the bubble that would burst not long after, sending the world into a ruinous tailspin from which we're only just recently recovering. So it's probably good news that we're now above that level, right? Back on track, y'all! But even scarier than...
On Tuesday, the City Council voted in favor of a federal tax break for New York City commuters: up to $130 of pre-tax earnings set aside for transit costs, to be available to employees of businesses with more than 20 full-time employees. A 30-day unlimited MetroCard currently costs $112, or $113 if you have to buy a new one. Because of a tricky thing where some months have 31 days, this means 13 purchases a...
If it is true, as is often said, that "New York is a city for only the very rich and the very poor," perhaps it's also accurate to say that the scales have tipped more in favor of the very rich, in recent years. Nothing illustrates this quite like a glimpse at the Brooklyn real estate market, which is kind of liking staring at the sun. We here at Brooklyn Mag have detailed how...

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