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New York

2nd Ave subway shakes up sales

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From the May issue: Now that the Second Avenue subway appears to be on track, developers and brokers are seeing a mixed impact on building sales and development site deals on the Upper East Side. MTA Chairman Peter Kalikow promised last month’s groundbreaking at 99th Street and Second Avenue would be different from the previous false starts. But even before elected officials gathered for a photo in the tunnel, news of the impending new subway service has been ruining some long-term deals and encouraging others. Optimists among the buyers and developers say they believe the new line will ultimately increase property values. more By Rachel Deahl