Forest City Ratner reportedly wants to pay just $20 million to the Metropolitan Transportation Authority for the portion of the Vanderbilt Yard it needs to build the Atlantic Yards arena. It initially promised to pay $100 million for the whole railyard. This series attempts to add some context.
From the 10/3/08 Real Deal:
Chelsea development site asking $20 million
A three-story, 27,600-square-foot commercial building at 537-543 West 20th Street is on the market with an asking price of $20 million. The site, located between 10th and 11th avenues, has 100 feet of frontage and lies in a split zoning of M1-5 and C6-3. This allows for a 46,000-square-foot office, hotel or gallery development. Bermuda Limousine Corporation occupies the space but will relocate, and the building will be delivered vacant.
That's a much, much smaller development than that planned for the segment of the railyard.
From the 10/3/08 Real Deal:
Chelsea development site asking $20 million
A three-story, 27,600-square-foot commercial building at 537-543 West 20th Street is on the market with an asking price of $20 million. The site, located between 10th and 11th avenues, has 100 feet of frontage and lies in a split zoning of M1-5 and C6-3. This allows for a 46,000-square-foot office, hotel or gallery development. Bermuda Limousine Corporation occupies the space but will relocate, and the building will be delivered vacant.
That's a much, much smaller development than that planned for the segment of the railyard.
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