Moynihan Station | The Real Deal New York

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Moynihan Station

421 Eighth Avenue
New York, NY 10001
Retail, New Construction, Ground Lease, Other

Moynihan Station is the long-held dream of transit wonks and politicians alike (not to mention ordinary, everyday commuters) to transform the current James A. Farley Post Office at 421 Eighth Avenue into a soaring, modern hub along the lines of Grand Central Terminal across town.

Plans for the station go back to the late 1990s, when then-U.S. Senator Daniel Patrick Moynihan proposed moving the entrances and concourses of the current Penn Station underneath the post office across the street.

Plans for what came to be called Moynihan Station after the senator's death in 2003 got pushed further into the future, and eventually collapsed as various parties involved, including the Port Authority, the city, New Jersey Transit and Amtrak, failed to agree on scopes and timelines. Moynihan Station, however, was resurrected in the spring of 2012 under the administration of Governor Andrew Cuomo. That $270 million plan would roughly double the width and length of Penn Station's western concourse and  create six new entrances.

While the state would oversee the first phase, the expansion and renovation of the train depot, the second continues to be the purview of a joint venture between Vornado Realty Trust and the Related Companies, which agreed in 2006 to pay the state $310 million for the rights to develop retail (and perhaps hotel rooms) in a revamped station.

In the fall of 2014, Robert Knakal, then of Massey Knakal Realty Services but subsequently of Cushman & Wakefield, won a competitive process to market the unused air rights above the building.

  • const. status Proposed
  • block and lot 1-00755-0040
  • BIN 1084820

02/18/19
...now known as Hudson Yards, broke ground in 2012. Moynihan Station In 2006, Silver delivered a major setback to Related and Vornado Realty Trust by vetoing...

...plans is coming from the private sector. The Moynihan Station project is expected to wrap in 2020. A source familiar with the Moynihan project said...

09/18/18
...now known as Hudson Yards, broke ground in 2012. Moynihan Station In 2006, Silver delivered a major setback to Related and Vornado Realty Trust by vetoing...

09/06/18
...Governor Cuomo Announces Improvements to Moynihan Station (Credit: governorandrewcuomo via Flickr) Gov. Andrew Cuomo on Thursday announced plans to create another...

04/19/18
...as the Tappan Zee Bridge, LaGuardia Airport and Moynihan station overhauls and the Javits Center as major accomplishments. " confirmed he's coming this morning," Colletti...

04/09/18
...space in Penn Plaza, the $1.6 billion redevelopment of Moynihan Station and 220 CPS, the luxury market’s new prom queen. A rendering of 220 Central Park...

02/05/18
...clockwise from top l.) LaGuardia Airport, Moynihan Station and the Jacob Javits Center Construction starts picked back up again last year, totaling...

01/17/18
...City, including the redevelopment of LaGuardia Airport and Moynihan Station...

12/20/17
...on the board of the Lowline and the Moynihan Station Arts and Cultural Committee. Blumin went missing, along with her boyfriend and two sons...

...on the board of the Lowline and the Moynihan Station Arts and Cultural Committee. Blumin went missing, along with her boyfriend and two sons...

10/16/17
...K. Javits Convention Center expansion (top) and the Moynihan Station Train Hall New construction starts for nonresidential projects tripled to more than $3 billion in...

08/18/17
...First Avenue, Steve Roth and a rendering of Moynihan Station The 10 largest real estate loans recorded in July add up to more than $2.5 billion...

06/19/17
...From left: Renderings of Moynihan Station, Sen. Chuck Schumer and Gov. Andrew Cuomo (Credit: SOM and Getty Images) Potential additional...

04/25/17
...Moynihan Station, Richard LeFrak and Steve Roth How much power does the national infrastructure council assembled...

02/01/17
...Vornado Realty Trust a decade ago on the Moynihan Station project – it also helps them potentially front-load the development’s residential portion at a...

...space in Penn Plaza, the $1.6 billion redevelopment of Moynihan Station and 220 CPS, the luxury market’s new prom queen. A rendering of 220 Central Park...

11/01/16
...space in Penn Plaza, the $1.6 billion redevelopment of Moynihan Station and 220 CPS, the luxury market’s new prom queen. A rendering of 220 Central Park...

10/03/16
...Andrew Cuomo and a rendering of Moynihan Station Critics of Gov. Andrew Cuomo's plans for the James A. Farley Post Office and...

09/30/16
...Rendering of Moynihan Station (inset: Joe Chan) Joe Chan, the head of the Empire State Development Corporation’s...

09/23/16
...to $150 million in funds for the development of Moynihan Station.  -- Miriam Hall...

09/22/16
...Rendering of Moynihan Station The Port Authority of New York and New Jersey will provide up to $150 million...

09/20/16
...as Google’s 111 Eighth Avenue. Do you think Moynihan Station will turn into a tech hub if GE, which is now billing itself as...

...as Google’s 111 Eighth Avenue. Do you think Moynihan Station will turn into a tech hub if GE, which is now billing itself as...

06/16/16
...Penn Station and the post office, known as Moynihan Station, the New York Daily News reported. The firm estimates that the ride could bring...

...Avenue Subway and the first phase of the Moynihan Station at the James A. Farley Post Office — projects that together represent more than $10 billion...
  • Event Sales
  • Building Name Farley Post Office
  • Address 421 Eighth Avenue
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 1,500,000
  • Price $ 230,000,000
  • Price per foot $ 153.33
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 1 United States Postal Service
  • Party 2 Empire State Development Corp.
notes
The state bought the post office for $230 million in the first step of the development of Moynihan Station. The Port Authority of New York and New Jersey paid $140 million of the acquisition.