More rail yards for sale 

By Marc Ferris | June 27, 2008 10:00AM

From the June issue: The turmoil surrounding Hudson Yards last month — with the Related Companies stepping in to salvage the deal in an 11th-hour, billion-dollar agreement — illustrates just how difficult it can be to do business with a state agency like the Metropolitan Transportation Authority. But beyond the currently in-the-spotlight West Side and the Atlantic Yards site in Brooklyn, the MTA has a vast real estate portfolio. The agency owns or leases 14,000 properties in the metro area, including 5,350 in the city. The sites include train stations, rail yards, switching facilities and other infrastructure locations. What’s more, the MTA is either selling or has recently sold a handful of them. 


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