The MTA plans to buy the terminal, along with Metro-North’s Harlem and Hudson Line, from private holding company, Midtown Trackage Ventures.

‘This was a no-brainer, from a financial standpoint,’ said MTA Chief Development Office, Janno Lieber,’ in a prepared statement. At current interest rates, it was cheaper to buy the terminal than to continue paying rent until end of the lease, which would run until 2274, Lieber added.

The MTA is expected to become the proud owner of Grand Central Terminal, on Thursday, in a $35 million deal

The transportation authority has leased the properties for the last 280 years and is said to have paid more than $2 million a year to rent the terminal and tracks. The MTA had a two-year window, under the terms of its lease, from April 2017 through October 2019, to buy the terminal and the tracks.

The MTA plans to buy the terminal, along with Metro-North’s Harlem and Hudson Line, from private holding company, Midtown Trackage Ventures

The authority’s board is expected to vote in favor of the purchase on Thursday. The MTA board’s finance committee has already approved the deal.

Grand Central Terminal is located at 42nd Street and Park Avenue in Midtown Manhattan. It’s also the southern terminus of the Metro-North Railroad’s Harlem, Hudson and New Haven Lines.