NYC Asking $1 Billion For Manhattan Waterfont

The space above Hudson Yards, which could be home to over 12 million square feet of new offices and residences, is up for sale.

1 minute read

July 14, 2007, 1:00 PM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"Gov. Eliot Spitzer announced Friday that city, state and transit officials have begun soliciting bids for the right to build over a big rail yard where Mayor Michael Bloomberg wanted to put a new stadium to host the New York Jets and the 2012 Olympics.

That project failed two years ago - along with the city's bid for the games.

Now, the city hopes to find a deep-pocketed developer or two willing to put a deck over two sections of the property and build office towers, apartment buildings, parks and a cultural center."

"Spitzer declined to name an asking price Friday, but said the Metropolitan Transportation Authority, which owns the land, hopes to raise enough to erase a $1 billion deficit in its construction budget."

FULL STORY: For Sale: Manhattan Waterfront

Friday, July 13, 2007 in Forbes

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