A and C could spell FUBAR for some New York property owners.
Distressed analysts and real-estate speculators said the collapse of the C line and the crippling of the A could be disastrous for investors and tenants alike.
“Anybody holding property along Eighth Avenue or in West Harlem, Washington Heights or Inwood better be prepared to take a big hit to their equity,” said the real-estate gossip Web site Curbed.com.
The site used FUBAR – the acronym for “fouled up beyond all repair” – to describe the disaster, which one Boerum Hill tenant said “certainly screws Brooklyn.”
“I don’t know if it means prices will fall,” he wrote. “But my commute was an hour and 10 minutes longer, [and] I definitely will not be renewing my lease this spring if the delays continue.”
Online pessimists said the multimillion-dollar subway fire could also affect “anybody speculating on Second Avenue real estate in anticipation of a new subway line . . . [They] better adjust their investment horizon. Drastically.”
Corcoran CEO Pam Liebman said booming sections of Brooklyn real estate could take an immediate hit, with neighborhoods such as Bedford-Stuyvesant and Fort Greene already feeling it.
“This was the main topic of discussion in our Brooklyn office,” she said. “It’s very detrimental to Bed-Stuy because it’s a commuter’s town.