How conditional is Related’s Hudson Yards deal?

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The MTA succeeded in selecting another developer for Hudson Yards less than a week after Tishman Speyer pulled out, but like that deal this one is also conditional. The MTA said it would “enter into a contract with the developer in the next few months,” which could mean anything from finalizing minor details to nailing down more complex issues. But the cash-strapped MTA isn’t expected to wait too long to close the $1.054 billion deal. [Post] and [Sun]

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