I didn't see the raid reported anywhere, but apparently that's not surprising. My friend who used to be on the force said it sounded like a fairly typical narcotics raid based on my description of it, something he called "pretty standard" and "not really something the papers would cover." From what he told me, "snitching" or tips only tangentially result in raids--the narcotics unit only goes in if they successfully purchase from the suspects, usually more than once. I was planning to ask one of the foot patrols in the neighborhood about it, but they weren't out last night or this morning when I was on the avenue, and the 77th Precinct didn't have any information when I called to ask (I don't think they typically discuss something like this, particularly if the investigation is ongoing, which it might be, and they also may not have been involved if the raid was conducted by the narcotics unit).
As for blogging it, I don't post every time I see the guys dealing weed up around Sterling/St. John's/Lincoln on Franklin, but a raid seems newsworthy if you live on the street. Sure, it's nothing like it was if you talk to the long-time residents--a US Marshals notice adorned the old Melo Grocery at St. Mark's and Franklin when I first got here, a remnant of federal raids on cocaine dealers in the 1980s--but police with riot shields and sledgehammers are out-of-the-ordinary for me.
Update to the Update: I spoke with a pair of officers on the beat on the way home, and while they didn't know anything about the specifics of the event, they said it was almost certainly a narcotics raid. They also pointed out that the 77th Precinct and other NYPD units have been paying special attention to Franklin over the last few months, in the form beefed-up foot patrols, anti-drug work, and the Skywatch's continued presence.