The Afternoon Wrap: Wednesday

M.T.A. board approves budget with major service cuts and fare hikes (to begin in June), while calling on Albany for financial assistance. [NY Times]

New residential building permits in Brooklyn were down 88 percent this October when compared to the same month four years ago. [NY Post]

State Senator Andrew Lainza to introduce bill calling once again for Staten Island to succeed from NYC. [City Room]

Semi-secret meeting held on Toll Brothers’ 1,500-unit Gowanus Green development planned for a very toxic area of Carroll Gardens. [Curbed]

In these down times, property owners find offering a little Christmas gift or two as an incentive to rent is never a bad idea. [TRD]

U.S. government requests that a company it claims is controlled by an Iranian bank turn over its minority interest in 650 Fifth Avenue. [TRD]

Wells Fargo renews its 34,000-square-foot lease with the Moinian Group at 530 Fifth Avenue—formerly known as the Bank of New York Building. [GlobeSt]

Bushwick has a slew of new restaurants to look forward to. [BushwickBK]

A last look at the old South Ferry subway station. [VNY]