Sagaponack Road manse trades for $18 million, NYC gets a new subway — far from Second Avenue … and more

After mega price cut, Sagaponack Road manse trades for $18 million. Welcome, H. Storm-battered Rockaways gets its own subway line. The lesson of the Hamptons’ new Parrish Art Museum: “Imagination costs less and is worth more than sumptuous materials and showy design,”writes New York magazine’s Justin Davidson. Community boards take aim at Midtown rezoning proposals. Finally, Spain offers incentives to foreign homebuyers. Read these stories and more after the jump.