Estimated and final cost subsidies in New York City's new ferry: From an initial subsidy of $6.60 per trip, the final cost is $24.75 per trip (plus $2.75 that each passenger must pay)

A Ferry Subsidy of $24.75 a Ride? New York City’s Costs Are Ballooning. Patrick McGeehan. The New York Times, Apr 17 2019, https://www.nytimes.com/2019/04/17/nyregion/new-york-ferry.html

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One of the new routes Mr. de Blasio announced this year — between Coney Island and Wall Street — is projected to require a subsidy from the city of $24.75 for every passenger, according to a report from the Citizens Budget Commission, a nonpartisan, nonprofit civic organization.

The commission said that the average subsidy for each passenger in the system’s first year of operation was $10.73, far more than the $6.60 subsidy the de Blasio administration originally estimated.

City officials say the subsidy will fall as the system attracts more riders. They now project that it will drop to less than $8 per passenger, after the addition in the next two years of routes to Coney Island, the North Shore of Staten Island and Ferry Point Park in the Bronx.

But that forecast hinges on an estimate that two million riders a year will opt to pay $2.75 to ride from Staten Island to the West Side of Midtown when they can get to Lower Manhattan on the city-run Staten Island Ferry for free.

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Although it would cost $27.50 per person to ride the ferry from Coney Island to Wall Street, according to the Citizens Budget Commission’s report, the estimated 1,100 commuters will only pay $2.75.

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