The forced transfer of land from private homeowners and small businesses to a rich, connected, powerful developer in Brooklyn has received sanction from the NYS Supreme court.
This kind of eviction for the benefit of the rich developer and the parasitic tax collectors was endorsed by the SCOTUS under Kelo v. City of New London decided in 2005. The KELO decision created a popular backlash across the country, prompting legislation in many states to limit forced takings (not in NY), but the decision was also supported by some powerful interests, too, like the NY Times. Note that the Times editorial was penned from a building they were able to purchase earlier on the cheap due to eminent domain support as part the renewal of the greater Times Square area. Impartial observer, not so much. Imagine once we get fully state-subsidized media... Anyway, it's also worth noting that the planned development which robbed the Kelo's of their home isn't even progressing.
Either way, just to be clear - you may be forced from your home or business if the government deems it may reap greater tax revenue from your property after it is handed over to someone else.