Facebook Cutting 250K SF at Hudson Yards "Facebook’s parent company Meta will cut about 250,000 square feet from its 1.9 million-square-foot Hudson Yards office portfolio as part of the firm’s plans to drop at least $2.9 billion to lose office space across the country." (Commercial Observer)

MTA proposes redesign of Brooklyn's bus network "Transit officials on Thursday released the agency’s long-awaited proposed redesign of Brooklyn’s bus map, which includes the removal of hundreds of stops and changes to dozens of routes." (Gothamist)

Feds let MTA cut regulatory corner to open LIRR terminal by year’s end "A new Long Island Rail Road station can open at Grand Central Terminal next month after the feds granted a waiver to a safety regulation requiring a specific technology that prevents train crashes, but which LIRR leaders say is redundant, The Post has learned." (New York Post)

NYC subway fare could hit over $3 by 2025 "The cost of a subway or bus ride in New York City could increase to more than $3 per trip by 2025 under proposed fare hikes, the Metropolitan Transportation Authority (MTA) announced this week. During the transit agency’s monthly board meeting on Wednesday, officials said a higher-than-projected fare increase, from a planned 4 percent hike to instead a 5.5 percent jump, is needed because of significant budget deficits due to low ridership." (6sqft)

New York and Singapore top the list of world’s most expensive cities in 2022 "A stronger currency was also one factor driving cities up the rankings. Six of the eight highest climbers (after the two Russian cities) were US cities, led by Atlanta going from 42nd to 46th in the rankings of the 172 cities surveyed. The US currency has strengthened sharply against almost all currencies as the US Federal Reserve hiked interest rates and signalled more rises to come." (The Guardian)