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    Metropolitan Transportation Authority

    2 Broadway
    New York, NY
    (212) 878-7049
    Website
    [email protected]

    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.

    • Event Office Leasing
    • Address 1 Pierrepont Plaza
    • Neighborhood Brooklyn Heights
    • Borough Brooklyn
    • Square feet 47,042
    • Price per foot $ 50.00
    notes
    The MTA inked a deal to renew its lease for the Brooklyn Heights space for an additional 10 years at $50 per square foot.
    • Event Sales
    • Address 409 West 34th Street
    • Neighborhood Hudson Yards
    • Borough Manhattan
    • Square feet 350,000
    • Price $ 157,000,000
    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
    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
    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
    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
    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
    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
    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
    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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