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Jets don't like the bargains at Yards Sale
The Hudson Yards are back on the market. The Jets formally withdrew their bid to buy the property. The refusal by the state to back the city's generous offer to subsidize the project meant that the Jets would have to pay something close to (but still well below) market value, and the Jets are apparently only interested in buying at "Going Out of Business Sale" prices.
Now that the fix has failed, maybe a real bidder will make a reasonable bid for the property. Or maybe the City can, I don't know, make it into something that will directly beneifit the public? Either way, that means that the High Line will be around until the rail yards are developed, so climb on and enjoy the view.
Posted by Charles Star on 09/01/2005 | Permalink
Comments
Didn't the Cablevision people make a proposal also? I believe it involved a lot of housing, and maybe a park. So here's their chance to make good on that offer! It was a sincere offer, wasn't it?
Posted by: drewo | Sep 2, 2005 1:34:45 PM
It was sincere enough that they would have been bound to it if they were selected. As for now, I'm not holding my breath waiting for them to make the offer again.
Like I said, now that the preferred buyer has walked away, the City can engage in arm's length negotiations and get something approximating fair market value for an incredibly valuable piece of property.
Posted by: Charles Star | Sep 2, 2005 2:04:52 PM
