High Line Blog

The Times reports today that financial giant Morgan Stanley has backed away from its deal with Rail Yards bidder Tishman Speyer (bid here).
Tishman is one of four remaining bidders for the site, (Brookfield Properties dropped out last week) and, until today, was one of three with an anchor tenant.
Related has secured Newscorp and Durst-Vornado is working [...]

Filed under: Media, Tishman Speyer | Tagged: Developers, New York Times, Tishman Speyer | 1 Comment »

Brookfield Properties has announced they have not submitted a second bid for the Rail Yards site. Supplementary bids were due yesterday.
Back in January, the MTA asked the five developers to submit supplementary materials supporting their ability to lease, not buy, the 26-acre site. None of this financial information was made public.
Brookfield’s decision not to [...]

Filed under: Brookfield, MTA | Tagged: Brookfield, Developers, MTA, New York Observer, New York Times | 1 Comment »

Welcome to the second in our series of posts running down the track records of the various companies competing for the opportunity to build lots and lots of buildings over the West Side Rail Yards. Today we focus on Extell, whose Steven Holl-designed plan (above, and here) has probably received the most architectural critical [...]

Filed under: Better Know a Developer, Extell | Tagged: Developers, Donald Trump, Extell, Forest City Ratner, Riverside South, Steven Holl | 2 Comments »

The January 28 MTA letter to developers generated a bunch of speculation on what the new guidelines will mean for developers, and it’s been a busy week for the various other developments around the Yards.

MTA Likely to Narrow Rail Yards Field (NYO The Real Estate)
MTA Wants Rail Yards Developer Designated By April 1 (NYO the Real [...]

Filed under: Media | Tagged: Crain's, Curbed, Developers, Javits, MTA, New York Observer, New York Post, Press, Real Deal | No Comments »

Crain’s has the latest on an increasingly complicated set of requirements for developers, as outlined by the MTA in their January 28 letter.
According to the article by Theresa Agovino, the winning developer will be contractually obligated to create a set of seperate funds that will go to the MTA for Rail Yards expenses and earmarks [...]

Filed under: Media | Tagged: Crain's, Developers, Financials, MTA | No Comments »

Over the next few weeks, we’ll be providing you with some quick-hit style background information on the various developers who have submitted bids for the West Side Yards site. Today, we’re starting with Tishman Speyer, whose bid is pictured above.
Founded in 1978 in New York, Tishman Speyer (”TS” has managed 77 million square feet of [...]

Filed under: Better Know a Developer, Tishman Speyer | Tagged: Developers, Proposals, Renderings, Tishman Speyer | 1 Comment »

According to Crain’s,  it now looks as if the MTA would prefer to lease the Rail Yards site to developers for 99 years, rather than sell it.   
A source at one developer said the MTA was caving in to public pressure not to sell the property, which includes active MTA rail operations. But the MTA spokesman says that under a [...]

Filed under: Media | Tagged: Crain's, Developers, Financials, MTA, Proposals | 2 Comments »

Crain’s caught up with four of the five Rail Yards developers at the 112th annual Real Estate Board of New York (REBNY) gala.
Ric Clark from Brookfield, Stephen Ross from Related, Douglas Durst from Durst/Vornado, and Jerry Speyer from Tishman Speyer all make the case for why their development plan was the best.

Filed under: Video | Tagged: Brookfield, Crain's, Developers, Douglas Durst, Durst/Vornado, Jerry Speyer, Proposals, real estate, REBNY, Related, Ric Clark, Stephen Ross, Tishman Speyer, Video | No Comments »

Wall Street Journal Architecture critic Ada Louise Huxtable takes the Rail Yards planning process to task today. She’s skeptical of a process she sees as offering too much to the developers to the utimate detriment of the public good, because
it is hard to believe that teams with this much financial heft and assembled star power could come [...]

Filed under: Media | Tagged: Developers, High Line, Proposals, Wall Street Journal | No Comments »

Related Companies announces a $1.4 Billion investment by firms including Goldman Sachs and MSD Capital. While the firm’s release remarks that this news does not impact any of their current plans, including their West Side Rail Yards redevelopment proposal, the timing of their announcement is certainly convenient. The Times reports on this here.
Gothamist also picked [...]

Filed under: Uncategorized | Tagged: 7 Train, Brookfield, Chelsea Now, Crain's, Dan Doctoroff, Developers, Durst/Vornado, ESDC, Extell, Goldman Sachs, Gothamist, Moynihan Station, New York Magazine, Related | No Comments »