The Metropolitan Transportation Authority, always strapped for cash, will be issuing a request for proposals for its Midtown headquarters spanning 341, 345 and 347 Madison Avenue, Reuters reported.
“We expect to vacate possession of these buildings to a developer in 2014 at the latest,” Jeffrey Rosen, director of real estate for the agency, said at a finance committee meeting for the MTA, according to Reuters. The sale of the buildings has been planned since last year, but the RFP had not formally been issued.
The displaced workers will be transferred to 2 Broadway in Lower Manhattan, which the MTA has net-leased, Reuters said.
The MTA also said they will be trying to maximize the cash flow by offering the buildings for ground lease, Reuters said. [Reuters]