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New York

Study: NYC needs Ikea dock

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A new study has found that New York City needs at least seven new dry
docks like that one that Ikea turned into a parking lot in Red Hook.
Experts say it could cost about $1 billion to replace the 730-foot-long
former graving dock. The Port of New York has 18 dry docks, including
four larger graving docks. The study estimated the port would lose $50
million to $150 million in revenue over the next five years because it
does not have enough docks. Opponents of the Ikea, which opened last week, want the city to take back its dock because they say it would be less costly than building a new one.