I'm always amazed at how little New Yorkers like the waterfront. In every other city in the world it is sought, yet Manhattanites' focus is inward toward Central Park. I've been to Far Rockaway--it looks a little like New England in some places. It's got lovely beach property with lots of potential, yet New York puts housing projects on it. The only reason I can think of its low status is that it takes forever to get to work from there.