Peter Fine

, founder of Bolivar Development, may be one of the most optimistic about the future of New York City. In May 2020, when the city was on lockdown and seemed to face a rather precarious future, his development company secured a $70 million construction loan for 1998 Second Avenue, a 12-story rental project conceived with a planned Second Avenue subway extension in mind.

Just over two years later, the city’s rental vacancy rate is at an all-time low, President Biden’s proposed budget includes a $400 million U.S. Federal Transit Administration grant for additional Second Avenue subway stops extending service north from 96th Street to 125th Street, creating three new stations at 106th, 116th, and 125th streets. While too early to benefit from the subway extension,1998 Second (at the corner of 103rd Street) is within easy walking distance to the line's current terminus at 96th Street, and come August 2022, will bring online 164 much-needed apartments to the city.