Report: Tishman Speyer picked to develop Hudson Yards

New York /
Mar.March 26, 2008 12:28 PM

A model of Tishman Speyer’s Hudson Yards plans is now on display at the site of a press conference that’s being held by Gov. David Paterson and Mayor Michael Bloomberg at the West Side rail yards. Crain’s reported earlier that Tishman had been picked to develop the MTA’s 26-acre site. Tishman, which bid $1.004 billion for the site, was selected despite its lack of an anchor tenant. Tishman offered $112 million more than the only other bid that was still in the running this week, the Durst Organization-Vornado Realty Trust joint venture. That team had Conde Naste Publications as an anchor tenant and proposed 6.4 million square feet of residential space, the most of all five bids. Tishman’s plan calls for 10 million square feet of office space, 3 million square feet of housing and 13 acres of open space. Morgan Stanley, a co-bidder, withdrew its interest in being an anchor tenant over fears that a new headquarters would not be built in time. Building a platform over active train tracks is expected to cost $1.5 billion. The Observer reports that the MTA didn’t give a “conditional letter of designation” to Tishman today, but is expected to over the next 14 days. TRD


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
The former Presidio Public Health Hospital (Google)
At these Presidio apartments, you might room with a ghost for $3,700 a month
At these Presidio apartments, you might room with a ghost for $3,700 a month
The HSBC Tower (Google)
Andrew Chung’s Innovo Property Group grabs HSBC building in Bryant Park
Andrew Chung’s Innovo Property Group grabs HSBC building in Bryant Park
Marcelo Claure (Credit: Getty Images)
The $2 billion man? Marcelo Claure seeks top pay from SoftBank
The $2 billion man? Marcelo Claure seeks top pay from SoftBank
You’ll have to shell out another $15M for this private Bahamas island
You’ll have to shell out another $15M for this private Bahamas island
You’ll have to shell out another $15M for this private Bahamas island
(Nestron)
Singapore’s Nestron unveils its biggest — and priciest — tiny home
Singapore’s Nestron unveils its biggest — and priciest — tiny home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...