Brooklyn, queens home sales lirr president resignation banks’ capital requirements crain’s new york business

The number of home sales declined in Brooklyn and Queens during the first quarter of the year, according to a report from brokerage Douglas Elliman and appraiser Miller Samuel. The apparent cooldown accompanied median prices that tied a record ($795,000 in Brooklyn) or came close ($550,000 in Queens). [ Crain’s New York Business] 2. Embattled LIRR president out

Patrick Nowakowski will resign tomorrow after four years as president of Long Island Rail Road. His departure takes place amid an erosion in LIRR service. The system’s on-time performance in 2017 was its worst in 18 years and January 2018 its worst month in 22 years. [ Newsday] 3. Capital requirements for banks unlikely to ease under Trump


The Federal Reserve is expected to increase the capital thresholds that certain banks must maintain in the event of another financial crisis. Financial houses had hoped for an easing of such buffers under the Trump administration. The Fed is expected to eliminate the requirement that banks maintain planned dividends throughout a crisis, however. [ The Wall Street Journal]

Ride-hailing service Lyft plans by year-end to add 100 wheelchair-accessible minivans to serve the five boroughs. The company made the announcement as a coalition of for-hire vehicle companies and supporters sue to overturn a regulation requiring a significant increase in the number of wheelchair-accessible vehicles in the city. [ Metro]

Plus: To combat congestion, the state must do much more than impose a surcharge for certain for-hire vehicles and install bus lane cameras, according to an op-ed by state Sen. Liz Krueger. [ Crain’s New York Business] 5. De Blasio warns City Council about micromanaging

Mayor Bill de Blasio said yesterday the City Council should not try "to manage the day-to-day operational work" of agencies under his administration. The comment was considered a warning to a chamber that has been passing and proposing legislation requiring changes and other actions at city departments. [ Crain’s New York Business] 6. Columbia med school accelerates financial aid overhaul

Columbia’s medical school will meet 100% of students’ financial aid needs starting in August, several years earlier than expected. Most of the funding for the move is coming from a $300 million gift from Dr. Roy Vagelos, former CEO of drugmaker Merck, and Diana Vagelos, vice chair of the Barnard College trustees. [ Crain’s Health Pulse] 7. NY fines mortgage servicer $5 million

The state has fined mortgage service company Nationstar Mortgage $5 million for failing to maintain proper documentation and file forms required under New York rules. The Dallas-based company has agreed to donate another $5 million to local nonprofits that rehabilitate abandoned properties. [ Crain’s New York Business] 8. State watchdog wants Queens judge removed

New York state’s Commission on Judicial Conduct recommended yesterday that Judge Terrence C. O’Connor be removed from the New York City Civil Court in Queens. The commission concluded that O’Connor mistreated lawyers, failed to follow the law and abused his power. He has a month to appeal the removal decision, which the panel apparently rarely makes. [ The New York Times] 9. Rockefeller collection could smash estate auction record

The late David Rockefeller’s vast art collection, which includes works by Picasso and Chagall as well as 67 porcelain dinner sets, is likely to fetch as much as $1 billion at Christie’s in Manhattan this month—a record for estate auctions. Almost 1,600 lots will be up for bid at the auction house at a time the general art market is surging. [ The Wall Street Journal] 10. City reaching for a balmy, short-lived 80 this weekend

After several weeks of unseasonably cool—even cold—weather, the temperature in the city is forecast to hit 80 degrees Saturday. The warmth is expected to be fleeting as 50s return Sunday, along with rain through Monday. Snow flurries are in the forecast for midweek. [ New York Post]