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The Daily Dirt: MTA advances massive Bronx project 

A chat with the agency’s head of transit-oriented development

MTA Agrees to Sell Site for Wakefield Village
MTA's Miriam Harris with rendering of Wakefield Village (LinkedIn, Newman Architects, Getty)

The MTA agreed to part with a development site in the Bronx for $14 million. The deal could pave the way for 1,200 housing units. 

In December, the agency signed off on selling a site at Bullard Avenue and East 241st Street, near the Metro-North Wakefield station, to a development team that includes Webster Leasing (an entity tied to Eastern States Construction), Best Development Group and Joy Construction. 

The developers want to build 1,200 apartments across three buildings, all of which would be income-restricted. It is not yet clear what kind of public financing the project would receive.

The MTA’s Miriam Harris says the project exemplifies the agency’s commitment to transit-oriented housing and to finding ways to raise revenue through its existing assets. Harris, who previously worked at Trinity Place Holdings and Forest City Ratner, became senior vice president of transit oriented development in December.  

She said the MTA’s site was sandwiched between two other plots controlled by the development team. The agency’s planned sale of the site was necessary for the project to move forward. The developers are working toward beginning the land use review process to rezone the site in the spring. 

I asked Harris how threats to funding — and in the case of Gov. Kathy Hochul’s proposed state budget, a lack of financing for the MTA’s capital plan — affect the agency’s priorities. President Donald Trump has also indicated that he might halt congestion pricing, cutting off another stream of revenue. 

But Harris said that even with political headwinds, the construction and development division at the MTA tries not to pivot from long-term projects.  

“We live in the realities of the federal or local politics of that day, but we take a long term view,” she said. “We try to do the best transit-oriented development and highest and best use for the MTA over the long term. That’s how we think about it.”

What we’re thinking about: If you are a developer or construction contractor, how are you preparing for tariffs? How do you expect these tariffs will affect your business? Send a note to kathryn@therealdeal.com

A thing we’ve learned: In terms of square footage, Equinox is the largest retailer in Manhattan. 

Elsewhere in New York…

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— NYCHA officials say confusion over the Trump administration’s federal funding freeze delayed Section 8 rental payments to landlords, Gothamist reports. NYCHA spokesperson Michael Horgan said Section 8 payments were being processed on Monday and that landlords should expect to receive the funds within one business day. 

— Mayor Eric Adams may need to return $10 million in public matching funds he received during his 2021 campaign, Politico reports. In a Jan. 16 letter, the Campaign Finance Board informed Adams that it is indefinitely suspending the deadline for its final audit of his 2021 fundraising efforts as it investigates “potential campaign-related fraud and activity that may constitute a breach of certification.” If the board finds that such a breach took place, Adams would be required to return his public matching funds.

— State Attorney General Letitia James told healthcare facilities on Monday that refusing to provide gender-affirming care for people younger than 19 years old violates New York anti-discrimination laws, Associated Press reports. “Regardless of the availability of federal funding, we write to further remind you of your obligations to comply with New York State laws,” James states in a letter sent to state hospitals. 

Closing Time 

Residential: The priciest residential sale Monday was $19 million for a penthouse unit at 3 East 75th Street. The 7,300-square-foot triplex is part of The Stuart Duncan House. It was last listed by Corcoran in November of 2024 but later delisted.

Commercial: The most expensive commercial closing of the day was $75.5 million for 1 West Fourth Street. New York University purchased the Noho campus from Hebrew Union College, Jewish Institute of Religion. JLL’s David Carlos was the broker on the deal, per Commercial Observer.

New to the Market: The highest price for a residential property hitting the market was $19.5 million for a penthouse at 100 11th Avenue. The Chelsea condo unit is 4,800 square feet and last sold in 2013 for $11 million. Corcoran’s Janet Wang and Luca Signorini have the listing.

Breaking Ground: The largest new building application filed was for a 65,330-square-foot, nine-story residential building at 62 North First Street in Brooklyn. The building will designate 38,120 square feet for residential space and have 56 residences, per Yimby. Thomas Scibilia of NA Design Studio is the applicant of record. — Joseph Jungermann

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