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Trainspotter

MTA Leaning Toward Tishman Speyer’s Railyard Bid

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MTA Leaning Toward Tishman Speyer’s Railyard Bid

Tishman Speyer Properties, the company that controls Rockefeller Center, the Chrysler Building, Stuyvesant Town and many other properties, emerged Friday as the probable winner in the billion-dollar battle to develop 26 acres of vacant land overlooking the Hudson River, said two real estate executives who have been briefed on the negotiations.

 

The owner of the property, the Metropolitan Transportation Authority, plans to negotiate with Tishman Speyer throughout the weekend so that the authority can present a tentative deal at its March 26 board meeting. If the board approves the agreement, it will then begin a four-month negotiation over details of selling the rights to build a cluster of residential and commercial skyscrapers on a platform over a pair of railyards that sit on both sides of 11th Avenue between 30th and 33rd Streets. Tishman Speyer would also have to work out an agreement with the Long Island Rail Road, which operates trains in the yards.

 

Full story: nytimes_logo.gif icon_offsite.png - March 22, 2008

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Well heres an idea of the Tishman plan:

 

 

It sounds interesting and it does preserve the High Line but I actually was more interested in this one from Vornado Realty/ Durst Organization:

 

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Man, selling this property has really taken a long time. How long ago was it NYC wanted to build an arena over that? These coporations have money to pay the MTA every time the MTA raises the price tag on the property.

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