The deadly crossing

Construction on Route 9A, also known as The West Side Highway, and closure of the pedestrian bridge south of Albany Street have created a very dangerous situation. The ground-level crossing of The West Side Highway at Albany Street can be a death trap.

In February of 2009, Battery Park City resident Marilyn Feng was killed and her boyfriend seriously injured when a drunk driver struck the couple. Ms. Feng was an intern in Manhattan Borough president Scott Stringer’s office. In late September of 2009, another pedestrian was struck by a motorist, but he survived.

Funding for the permanent pedestrian overpass has been cancelled. Manhattan Borough President Scott Stringer discusses the problem.

The commercial real estate bubble

October 6

The other shoe to drop for New York City will be the massive rate of defaults on commercial real estate loans. Up to a trillion dollars in loans could go unpaid within the next year or two. Will lenders renegotiate or will they evict all of the businesses in those buildings causing an even great unemployment problem and tax revenue shortage?