As reported yesterday, the MTA has caved to what we are sure are vast political pressures and agreed to negotiate only with Ratner for 45 days. While at least they are standing up for themselves a little by trying to extract some more cash, to the outside observer, the decision adds a whole ‘nother later of stink to what has already been a suspect process. While we are in favor of the area getting developed and think a master plan is called for, we have to side with DDD’s Daniel Goldstein (pictured) on this one: It is truly unconscionable that Extell would get cut out at this point given its higher bid. The fact that many residents prefer Extell’s more modest (though still large-scale) plans aside, the eleventh-hour bidders are offering three times as much money! As one reader commented yesterday, “All along this has reeked of political back-room dealing to the extreme… Robert Moses would be proud but I’m not.”
M.T.A. to Deal Only With Ratner [NY Times]
Slideshow [NY Newsday - Photo by J. Klein]