Tishman Speyer upped HY bid

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Tishman Speyer’s $1.004 billion bid to develop the MTA’s Hudson Yards was upped considerably before it got the nod today. In October, Tishman offered the second-lowest bid with $819 million, above Extell’s $598 million but below Brookfield’s $908 million, Durst-Vornado’s $1.015 billion and Related’s $1.049 billion. After Brookfield dropped out before the second round of bids were submitted in February, Tishman again had the second-lowest bid with $897 million, above Durst-Vornado’s $842 million but below Related’s $943 million and Extell’s $1.15 billion. Related fizzled after it dropped its bid for the site’s eastern rail yards, and went after just the property’s western half. Extell declared that it wouldn’t pay sales tax, which could cost hundreds of millions. On Sunday night, with Tishman closing in, Durst-Vornado upped its offer but was still about $39 million short of Tishman. 

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