The New York Wheel is getting sold for parts at auction

Parts of failed project up for sale include its legs, drive towers and cable spokes

New York /
Dec.December 10, 2018 12:30 PM

The New York Wheel and an auctioneer (Credit: Financial Times via Flickr and New York Wheel)

Discarded parts from the failed New York Wheel project will get put up for auction next month in Delaware.

Parts going up for sale will include the wheel’s legs valued at $9.2 million, its drive towers valued at $3.3 million, its cable spokes valued at $4.4 million, its frame braces valued at $3.4 million and 36 capsules valued at $23 million, according to the New York Post. The project’s 9,147 tons of steel might also get sold for scrap metal.

The auction itself will take place on Jan. 16, and bidders must make their offers by Jan. 11.

The New York Wheel had long been plagued by cost overruns, delays and infighting, and officials announced that they were pulling the plug on it in October. Its demise marked one of the largest EB-5 failures ever. [NYP] – Eddie Small


Related Articles

arrow_forward_ios
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
(iStock)
Job recovery sputters, but hospitality & leisure add hiring
Job recovery sputters, but hospitality & leisure add hiring
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)
NoMad Hotel heads back to the auction block
NoMad Hotel heads back to the auction block
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
Google CEO Sundar Pichai (Getty, iStock)
Google’s hybrid model will allow 20% of employees to work remotely
Google’s hybrid model will allow 20% of employees to work remotely
Illustration of Amazon's Jeff Bezos (Photo illustration by Kevin Rebong for The Real Deal)
No room in the warehouse: Amazon fuels shortage
No room in the warehouse: Amazon fuels shortage
arrow_forward_ios

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

Loading...