Infrastructure projects can have a significant impact on property values in New York. For example, the construction of a new subway line or a highway can increase the accessibility and convenience of certain neighborhoods, leading to an increase in property values. Research by the National Bureau of Economic Research has shown that proximity to public transit can lead to higher property values.

Additionally, infrastructure projects can also improve the overall quality of life in an area. For instance, the development of parks, bike lanes, and pedestrian-friendly infrastructure can make a neighborhood more attractive, leading to an increase in property values. A study by the CityLab found that green infrastructure projects can have a positive impact on property values.

However, it's important to note that the impact of infrastructure projects on property values can vary depending on the specific location and the nature of the project. While some projects may lead to an increase in property values, others, such as the construction of a noisy or unsightly structure, may have a negative impact.

In conclusion, new infrastructure projects can have a significant impact on New York property values, with the potential to increase accessibility, improve quality of life, and enhance the desirability of certain neighborhoods.