The numbers are not good.
The M35 has only got an average weekday ridership of 176 people per day:
The worst in Manhattan.
Not only that, the drop in ridership, from 2016 to 2021 is also the most precipitous. The M35 lost 83% of its ridership between 2016 to 2021. Again, the worst in Manhattan:
The M35 is a ghost bus.
The Intelligencer Reports on NIMBYs and YIMBYs
The Intelligencer has an article on how a few of New York’s socialists are coming to terms with the data analysis from NYU’s Furman Institute that building market-rate housing does not increase nearby rents.
The author of the Furman Institute’s article notes that market-rate development actually slightly decreases nearby rents:
There is a growing debate about whether new housing units increase rents for immediately surrounding apartments. Some argue new market-rate development produces a supply effect, which should alleviate the demand pressure on existing housing units and decrease their rents. Others contend that new development will attract high-income households and new amenities, generating an amenity effect and driving up rents. I contribute to this debate by estimating the impact of new high-rises on nearby residential rents, residential property sales prices and restaurant openings in New York City. To address the selection bias that developers are more likely to build new high-rises in fast-appreciating areas, I restrict the sample to residential properties near approved new high-rises and exploit the plausibly exogenous timing of completion conditional upon the timing of approval. I provide event study evidence that within 500 ft, for every 10% increase in the housing stock, rents decrease by 1%; and for every 10% increase in the condo stock, condo sales prices decrease by 0.9%. In addition, I show that new high-rises attract new restaurants, which is consistent with the hypothesis about amenity effects. However, I find that the supply effect dominates the amenity effect, causing net reductions in the rents and sales prices of nearby residential properties.
You can read the full article here:
Harlem’s City Council member is mentioned in the Intelligencer article and is contrasted with Council Member Caban: