Sorry. Wishful thinking. No need to make plans to clear Broadway in lower Manhattan just yet. I got a bit carried away because my Knicks have a three-game winning streak. Will miracles never cease? Probably. Probably soon.
Thursday, January 17, 2008
Honestly, I don’t know enough about economics, real estate or taxes to give much weight to my thoughts on this story. I leave it to the viewer and experts to make sense of New York City’s homeowner market. With that said, I read as much of the city’s Finance Department report as I dared for fear of internal bleeding. This report details figures and formulas, assessments and explanations as to why many homeowners will be paying more on less. All may be kosher with everything they stated. I don’t know for sure. But perhaps because of it’s presentation, I was reminded of a quote which reads, “Statistics don’t lie, but people who use them occasionally do.” Take this blog for what it’s worth … or assessed for.
This coming summer, four manmade waterfalls ranging in height between 90 to 120 feet will teem into the waters under and near the Brooklyn Bridge. Designed by Olafur Eliasson, they’ll be built upon scaffolding and pumping 35,000 gallons of water a minute. This isn’t the first time that privately funded art in New York City will be used to inspire those who see it and enrich others who benefit from the extra tourist traffic. For example, the popular Central Park “Gates” exhibition created by the artist Christo in 2005 generated $254 million. If 7,500 gates with orange windblown banners can bring in that much cash, 4 magnificent waterfalls should have the money pouring in.