Tuesday, March 22, 2005

Hudson Railyard Update

Yesterday, March 21 was the official deadline for submitting bids on the development rights for the MTA's Hudson railyards. I can happily announce that if anything, Cablevision offer of $600 million spurred the Jets to make a more realistic dollar offer- for $720 million. See the beauty of the (somewhat-) free market? The city and especially the MTA have Cablevision to thank for the additional $620 million, if they do accept the Jets offer. It should also be mentioned that TransGas put up an offer for $800 million. The winning bid is as yet undecided, but at this point I won't be suprised if the Jets win.

Yay capitalism!

1 comment:

joe blob said...

I read somewhere that Bloomberg claims that the MTA has a "legal responsibilty" to give the area to Jets. If you don't you think that's stupid, then what is? I don't think you can get any worse than that.