The Afternoon Wrap: Monday

The Dow jumps 4.9 percent and the S&P 6.4 percent as Wall Street rejoices over Washington’s rescue plan for Citigroup. [NY Times]

New York magazine hosts a round-table with some of the best minds in the business—including Jonathan Miller and Dottie Herman—on NYC’s fragile real estate market. [NY Mag]

Editorial: Cynthia Nixon and Kara Walker on why the Community Education Council’s recent decision to remove an ethnically diverse middle school from PS 199—a largely-white and over-crowded UWS elementary school—should be reversed. [NYDN]

NYC’s retail community discovers the pleasures of energy efficiency with a little help from Con Edison. [City Room]

A look inside Calatrava’s 800,000-square-foot (and hugely over-budget) transportation hub as work begins. [Curbed]

A $64 million outdoor performing arts venue is coming to the Brighton Beach/Coney Island border, and many locals are far from pleased. [Curbed]

As luxury home prices fall 20 percent nationwide, experts predict NYC’s could fall by as much as 25 percent next year. [Barron’s via TRD]

New Jersey’s DMR Architects score an $8 million contract to design 18 NYC public schools. [TRD]

Brooklyn Heights has its Gristedes, Cobble Hill has its Trader Joe’s, now it’s Downtown’s turn for a better supermarket. [mcbrooklyn]

The U.S. Postal Service’s Bronx processing plant not moving to Manhattan after all. [West Bronx Blog]

The Afternoon Wrap: Monday