As a general principle, this seems like bad policy. 1) It means that a building owner has an overwhelming incentive to never allow graffiti on their building.

As a general principle, this seems like bad policy. 1) It means that a building owner has an overwhelming incentive to never allow graffiti on their building. 2) It means that graffiti artists have the power to retard residential growth in a city, worsening NYC's problem with affordable housing. But judges don't make policy, so we'll see how this plays out.