NYC: Five Pointz, mecca of graffiti culture, to disappear

I've just seen the news on WNYC's web site that the much beloved Five Pointz building in Long Island City, Queens, a global mecca for graffiti culture, is up for demolition, and will be replaced by luxury apartments. From what I know this used to be home to several artist studios until it became unsafe a few years back, but street artists from New York and around the world have continued to use the building as their canvas.

“This is a cultural landmark, not only for New York, but for hip-hop culture worldwide,” says Steve Harrington, the author of the book "Street Art New York." “I can’t imagine that anybody needs more luxury high-rises. We need to keep our cultural institutions protected and preserved." Read the full article here

Are there other places-- in NYC or elsewhere-- for street artists to go and create work without fear of arrest like they can do at Five Pointz?  How does this impact street artists?