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Metropolitan Transportation Authority
The Metropolitan Transportation Authority is the main public agency coordinating transportation in the New York City metropolitan region. Its massive purview covers rail lines, bridges, tunnels, ferries and roads in 14 counties; it includes the New York City Subway, the Metro-North Railroad into Connecticut and Upstate New York, and the Long Island Railroad. The MTA transports more than 11 million people on a typical weekday, making it far and away the nations biggest transit system.
The MTA also controls a vast portfolio of real estate, including buildings citywide; a long-term lease for Grand Central Terminal; and various rights of way along tracks and roads. It has selectively sold or leased such properties over the years. One of its biggest deals ever came in 2008, when the Related Cos. agreed to pay $1 billion to build out 26 acres of far West Side Manhattan known as Hudson Yards.
New York State launched the MTA in 1965, and it quickly grew from control of just the Long Island Rail Road to its present form. Thomas Prendergast is the MTAs chairman and CEO; and serves at the pleasure of the New York governor.
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11/15/18
...lately due to the financial woes of the Metropolitan Transportation Authority and the New York City Housing Authority.
A New York Times report late last...
11/14/18
...Fernando Ferrer (Credit: Wikipedia and Getty Images)
The Metropolitan Transportation Authority plans to buy Grand Central Terminal for $35 million.
The opportunity to buy the terminal...
10/23/18
...much more.
When Forest City went to the Metropolitan Transportation Authority, though, the agency put all the cost of construction on the developer -- $72 million...
10/04/18
...as deputy director of real estate at the Metropolitan Transportation Authority. He has spent time at Edward S. Gordon Company, CBRE and Insignia/ESG as...
10/02/18
...became deputy director of real estate for the Metropolitan Transportation Authority more than 30 years ago and has also worked at Edward S. Gordon Company, CBRE...
08/24/18
...and 347 Madison Avenue (Credit: Google Maps)
The Metropolitan Transportation Authority is spending about $4 million a year to maintain its empty former headquarters in Midtown...
08/20/18
...challenges for the neighborhood. Beginning in October, the Metropolitan Transportation Authority plans to shut down weekend L train service between Manhattan and Brooklyn for 15 weekends...
08/13/18
...behind Moinian en masse. In 2008, of course, the Metropolitan Transportation Authority tapped Related to develop 28 acres over its rail yards — a city-within-a-city project that’s...
08/03/18
...funny. The employee, a senior examiner at the Metropolitan Transportation Authority, was a key stop on the road to green-lighting construction projects within 200 feet of...
08/01/18
...update on their long-stalled plan to redevelop the Metropolitan Transportation Authority’s headquarters at 343 Madison Avenue.
The project is still in the entitlements phase and...
07/23/18
...Last year, Janno Lieber left Silverstein for the Metropolitan Transportation Authority. He led the company's redevelopment of the World Trade Center.
...
07/23/18
...two decades, having served as chair of the Metropolitan Transportation Authority, commissioner of the Port Authority of New York & New Jersey and owner and...
07/08/18
...and even negotiations with union leaders from the Metropolitan Transportation Authority and Long Island Rail Road, according to the Wall Street Journal.
“Docks is pretty...
07/05/18
...of New York and onetime chairman of the Metropolitan Transportation Authority.
Ravitch built Waterside Plaza in 1974, and had previously said it was designed to be...
07/02/18
...buying the New York Post and running the Metropolitan Transportation Authority.
To read the July issue of TRD, click here or on the “Magazine” tab...
...two decades, having served as chair of the Metropolitan Transportation Authority, commissioner of the Port Authority of New York & New Jersey and owner and...
05/18/18
...office towers Related and Oxford built over the Metropolitan Transportation Authority’s Far West Side rail tracks, opened in 2016 and is fully leased to tenants...
05/14/18
...Ravitch — who later served as chairman of the Metropolitan Transportation Authority and lieutenant governor of New York — took the reins in 1960.
“They were in the...
05/08/18
...and delays — of exclusively using union labor on Metropolitan Transportation Authority projects.
“The politically connected Building Trade bosses who organized today’s rally are the...
05/04/18
...Cynthia Nixon (Credit: Metropolitan Transportation Authority/Patrick Cashin)
Gubernatorial hopeful Cynthia Nixon has released her housing plan, which focuses largely...
...Ravitch — who later served as chairman of the Metropolitan Transportation Authority and lieutenant governor of New York — took the reins in 1960.
“They were in the...
04/27/18
...including site complications, that required meetings with the Metropolitan Transportation Authority, Witkoff told the New York Post in 2016.
The partners finally broke ground in 2015, but...
04/24/18
...lately due to the financial woes of the Metropolitan Transportation Authority and the New York City Housing Authority.
A New York Times report late last...
04/18/18
...of New York and New Jersey and the Metropolitan Transportation Authority. Authorities also discovered that the head of SIMCO Engineering arranged for an employee of...
04/09/18
...Yards plan and are currently managed by the Metropolitan Transportation Authority and the New York City Department of Environmental Protection. The deadline for proposals is...
- Event Sales
- Address 409 West 34th Street
- Neighborhood Hudson Yards
- Borough Manhattan
- Square feet 350,000
- Price $ 157,000,000
- Publication Date 11/01/2017
- Event Date 10/02/2017
- Party 1 Metropolitan Transportation Authority, Hudson Yards Infrastructure Corporation
- Party 2 Tishman Speyer
notes
The commercial real estate firm acquired this property for $157 million.
- Event Retail Leasing
- Address 1000S Eighth Avenue
- Neighborhood Park Slope
- Borough Brooklyn
- Square feet 360
- Publication Date 03/01/2017
- Event Date 01/15/2017
- Party 1 Metropolitan Transportation Authority, Turnstyle
- Party 2 Panda Bubble Tea
- Party 2 Brokerage F+B Group
- Party 2 Broker Winston Gitonga, Julian Hitchcock
notes
The tea shop signed a lease at the underground shopping strip.
- Event Office Leasing
- Address 33-00 Northern Boulevard
- Neighborhood Long Island City
- Borough Queens
- Square feet 152,000
- Publication Date 02/01/2017
- Event Date 12/18/2016
- Party 1 Vornado Realty Trust
- Party 1 Brokerage Vornado Realty Trust
- Party 1 Broker Glen Weiss, Josh Glick
- Party 2 Metropolitan Transportation Authority
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Josh Kuriloff, Jodi Roberts
notes
The government agency signed a renewal and expansion lease.
- Event Sales
- Address 333 West 34th Street
- Neighborhood Penn Plaza
- Borough Manhattan
- Square feet 347,000
- Price $ 220,300,000
- Price per foot $ 634.87
- Publication Date 10/01/2013
- Event Date 08/22/2013
- Party 1 Citigroup
- Party 1 Brokerage JLL
- Party 1 Broker Richard Baxter
- Party 2 American Realty Capital
notes
The property sold for $220.3 million. The building is 100 percent leased to four tenants: the Segal Company, the Metropolitan Transportation Authority, Godiva Chocolatier and Sam Ash New York Megastores.
- Event Retail Leasing
- Building Name Grand Central Terminal
- Address 89 East 42nd Street
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 300
- Publication Date 06/01/2011
- Event Date 04/22/2011
- Party 1 Metropolitan Transportation Authority
- Party 2 Beer Table
notes
The beer retailer signed a seven-year lease for space in Grand Central's Graybar Passage.
- Event Office Leasing
- Address 469 Seventh Avenue
- Neighborhood Garment District
- Borough Manhattan
- Square feet 68,000
- Price per foot $ 35.00
- Publication Date 11/01/2010
- Event Date 09/22/2010
- Party 1 The Meyer Family
- Party 1 Brokerage Colliers International
- Party 1 Broker Eric Meyer
- Party 2 Metropolitan Transportation Authority
- Party 2 Brokerage Colliers International
- Party 2 Broker Eric Meyer
notes
The New York transportation agency signed a five-year lease renewal on the 11th, 14th, 15th and 16th floors.
- Event Office Leasing
- Address 333 West 34th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 112,940
- Publication Date 04/01/2010
- Event Date 02/15/2010
- Party 1 SL Green Realty
- Party 1 Brokerage Cushman & Wakefield, SL Green Realty
- Party 1 Broker Paul Glickman, Steven Durels
- Party 2 Metropolitan Transportation Authority
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Josh Kuriloff, Robert Lowe
notes
The New York transportation agency signed a new 10-year lease. The reported asking rent was $42 per square foot. The MTA plans to consolidate some of its offices in the new space.
- Event Sales
- Address 48 East 50th Street
- Borough Manhattan
- Square feet 8,748
- Price $ 9,250,000
- Price per foot $ 1,057.38
- Publication Date 09/01/2009
- Event Date 07/23/2009
- Party 1 48 East 50th Street LLC
- Party 2 Metropolitan Transportation Authority
notes
The Metropolitan Transportation Authority paid $9.25 million for the first of four adjacent Midtown commercial buildings that will ultimately be demolished to make way for the development of a 60-foot ventilation structure that is part of the East Side Access project.
- Event Office Leasing
- Building Name American Express Tower
- Address 3 World Financial Center
- Neighborhood Battery Park City
- Borough Manhattan
- Square feet 54,970
- Price per foot $ 41.00
- Publication Date 06/01/2009
- Event Date 04/22/2009
- Party 1 American Express
- Party 1 Brokerage CBRE
- Party 2 Metropolitan Transportation Authority
- Party 2 Brokerage Newmark Grubb Knight Frank
notes
The New York transportation agency signed a 23-month lease for office space. American Express, which has its world headquarters in the building, owns half the property.
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YILDIZ HOLDING COMPAN
YILDIZ HOLDING COMPAN
Grand Central Terminal is a major train station in Midtown with the address...
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KORPENN LLC
KORPENN LLC
The tallest building in the Penn Plaza complex, this 2.66-million-square-foot skyscraper occupies the...
11/11/16
...Yards-related financing, including a bond issuance by the Metropolitan Transportation Authority and multiple construction loans for the Far West Side megaproject. The Real Deal analyzed...
...million to buy additional air rights from the Metropolitan Transportation Authority to build a 77-story, mixed-use tower that will hold 930 apartments.
And developers aren’t...
...signed Metro-North Railroad Co., a unit of the Metropolitan Transportation Authority, to a 20-year, 265,903-square-foot lease renewal and expansion at 420 Lexington Avenue, better known as...
...th. The next largest, he said, was the Metropolitan Transportation Authority renewing for 68,000 square feet at 469 Seventh Avenue.
Midtown
Tenants still have the advantage in...
