1. And for the question of the hour, how weighty was the impact of the tax reform bill on the Manhattan market? While the average sales price fell to $1,897,503 in the 4th quarter, we must take into account the last quarter of the year is typically the slowest. Aside from apprehension about the tax reform bill, the more notable impact was the drying up of the so-called legacy pipeline – contracts on pricey new apartments that have taken years to close – whose effect is fading. Otherwise, the overall median sale price showed a steady increase, coop sales rose 4%, and the first time buyer market is robust. Even if you take the most pessimistic outlook, the market is moving sideways in the face of temporary headwind.

2. Finally a bit of justice – there is hope in the endless fight against New York’s rampant and numerous bad landlords. New legislation has been introduced requiring corrupt landlords whose buildings are hit with a vacate order to foot the bill to temporarily relocate building tenants. The bill would require landlords to deposit 10% of the building’s rent roll for five years in an escrow account to cover potential relocation expenses. This action is the result of a situation in Chinatown in 2016 where a notorious slumlord let two buildings deteriorate so through a vacate order he could remove all 75 inhabitants, repair the building and increase the rents.

3. The new debate in the finger-pointing game of who’s going to fix the subway: if you live near the subway, should you pay extra for it? As properties on the UES in close proximity to the the 2nd avenue subway have seen a 6% increase since the line opened, some policymakers think the time has come for the subway to profit from the financial benefits it provides. AKA, those who saw any appreciation in their property’s values. Governor Cuomo, a Democrat, has termed this “value capture” and it is just another ludicrous scheme to get out of tapping the city’s coffers for a necessary overhaul. As we discussed last month, the New York Subway is a huge issue right now and clearly lawmakers are panicking and trying to get the public to foot this bill when we give so much in taxes already.

4. Wonder why your train is delayed? Watch this video:

5. Ever wonder what the two rotating statues at the Brooklyn side of the Manhattan Bridge represent? Replicas reclaimed their rightful post heralding incomers from Manhattan after the originals were moved to the Brooklyn Museum in the 1960s. The two illuminated beacons represent female allegories of Manhattan and Brooklyn. Miss Brooklyn, wearing a laurel wreath, with a church steeple and a lyre to her left, holds a tablet with the Dutch inscription “In Union there is strength”, a nod to Brooklyn’s Dutch roots. Miss Manhattan proudly sits with her right foot on top of a small chest. A peacock stands by her side as she holds a winged globe in her right hand. The originals were sculpted by the artist best known for the Abraham Lincoln statue at the Lincoln Memorial.