July 27, 2005
MTA to Ratner: Sweeten our pot
And the winner is... nobody just yet. New York's Metropolitan Transportation Authority voted this afternoon to postpone a decision on the sale of development rights to its Brooklyn rail yards land, but then said it would give New Jersey Nets owner Bruce Ratner a 45-day exclusive window to negotiate a more acceptable deal.
"I think that the bid that we did get from Forest City [Ratner], while complete and well thought out, frankly was not as high as I expected," said MTA Chairman Peter Kalikow. "I expected the MTA to receive more money." Kalikow didn't explain why the board was choosing to negotiate with the bidder who offered only $50 million, as opposed to the one who offered $150 million, if price was the main object...
Posted by: ratnerville at July 28, 2005 12:58 AM
