When the news broke last month that the Metropolitan Transportation Authority was toying with a massive shut down of the L train that could result in service disruption for three years at best (or no service for a full year, at worst) the collective response was fairly uniform: panic and hysteria.
“While the L train was the main trigger and catalyst for these neighborhoods to develop in the last decade, it doesn’t mean that the potential change of the L train will have [a reverse effect],” Ofer Cohen, the president of commercial brokerage TerraCRG, told CO. “Once you reach a certain vibrancy in a marketplace, it’s going to be hard to dial it back.”
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