MTA Reaches $1B Deal with Related, Goldman Sachs

                   
globest.com     May 20, 2008            

NEW YORK CITY-The Metropolitan Transportation Authority has confirmed that they have conditionally selected Related Cos. and Goldman Sachs to develop the air space over the two development sites at the Hudson Rail Yards here, as GlobeSt.com reported . According to the MTA, the Related/Goldman... [read full story]                

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MTA begins Hudson Yards search anew

newyorkbusiness.com     May 18, 2008          

Agency insists that it can get a deal done, but some argue project should be shelved May 18. 2008 12:45AMBy: Theresa Agovino The plan to redevelop the Hudson Rail Yards has been taking a beating, but don't count it out just yet. After Tishman Speyer's $1 billion deal for the 26-acre site...                

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MTA reaches deal with Related to develop West Side rail yards

nydailynews.com     May 19, 2008          

Frances Roberts Related Companies wants to build a mini-city on the rail yards. The MTA has reached a deal to develop its West Side rail yards less than two weeks after a tentative pact with another major developer collapsed, a City Hall source said today. Under the agreement, the Metropolitan...                

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M.T.A. Says It's Official: Stephen Ross to Build Big on Rail Yards

observer.com     May 19, 2008          

It’s official: Jumping back from the collapse of a deal with Tishman Speyer Properties, the Metropolitan Transportation Authority is going with Stephen Ross’ Related Companies to develop the West Side rail yards, Manhattan’s largest remaining parcel of developable land. As we first reported last...                

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MTA PICKS RELATED TO DEVELOP WEST SIDE RAILYARDS

nypost.com     May 19, 2008          

NEW YORK -- The Metropolitan Transportation Authority has tentatively chosen Related Companies to develop 26 acres of prime real estate on Manhattan's Far West Side. The MTA announced the agreement Monday after an earlier $1 billion deal with developer Tishman Speyer fell through. Gov. David...                

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The Related Cos. Strikes Hudson Yards Deal

globest.com     May 19, 2008          

NEW YORK CITY-GlobeSt.com previously said that despite delays and despite the $1 billion deal fallout with Tishman Speyer, development of Hudson Yards is inevitable. Related Cos. has reportedly struck a deal with the Metropolitan Transportation Authority, and although queries to the MTA and...                

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MTA gets its one-billion-dollar Hudson Yards deal after all

secondavenuesagas.com     May 19, 2008          

Despite prognostications that the collapse of the Tishman Speyer Hudson Yards agreement would lead to a lesser development deal, word is that the MTA is going to get its $1 billion after all. As Charles V. Bagli reports on The Times’ City Room blog, Stephen M. Ros, CEO of Related Companies and...                

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Related Cos. wins Hudson Yards deal

newyorkbusiness.com     May 19, 2008          

Just two weeks after a $1 billion deal with Tishman Speyer collapsed, Related Cos. CEO Stephen Ross jumps at "once in a lifetime" deal with the Metropolitan Transportation Authority. 2008 11:07AMBy: Theresa Agovino Related Companies Chairman Stephen Ross said he jumped at the chance to sign a $1...                

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New Pact for NYC Rail Yards

realestatejournal.com     May 20, 2008          

A joint venture between New York developer Related Cos. and investment bank Goldman Sachs Group Inc. signed a $1 billion deal to acquire the largest undeveloped parcel of land in Manhattan, the latest move in one of New York's longest-running real-estate chess games. It gives Related and Goldman...                

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MTA chooses company to develop West Side railyards

newsday.com     May 20, 2008          

By Matthew Sweeney | msweeney@am-ny.com The Hudson Rail Yards has a new potential leaseholder, but no tenants yet, as the MTA announced Monday an agreement to give development rights to Related Companies and financial partner Goldman Sachs for $1 billion. "We knew we had this one opportunity to...                

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DEAL COULD BE THE RAIL THING

nypost.com     May 20, 2008          

May 20, 2008 -- IT'S almost too good to be true - but nothing less than momentous if it is true. The "conditional" deal announced yesterday between the MTA and Related Cos. to develop the West Side railyard sounds more solid than the tentative one the agency had with Tishman Speyer. If the $1.054...                

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