MTA issues RFP for Madison Avenue HQ

The Metropolitan Transportation Authority, always strapped for cash, will be issuing a request for proposals for its Midtown headquarters spanning 341, 345 and 347 Madison Avenue, Reuters reported.

“We expect to vacate possession of these buildings to a developer in 2014 at the latest,” Jeffrey Rosen, director of real estate for the agency, said at a  finance committee meeting for the MTA, according to Reuters. The sale of the buildings has been planned since last year, but the RFP had not formally been issued.

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The displaced workers will be transferred to 2 Broadway in Lower Manhattan, which the MTA has net-leased, Reuters said.

The MTA also said they will be trying to maximize the cash flow by offering the buildings for ground lease, Reuters said. [Reuters]