{"id":3701,"date":"2018-11-15T22:40:13","date_gmt":"2018-11-16T03:40:13","guid":{"rendered":"http:\/\/lovepeacenslander.com\/?p=3701"},"modified":"2018-11-15T22:40:13","modified_gmt":"2018-11-16T03:40:13","slug":"mta-to-buy-grand-central-terminal-for-35m","status":"publish","type":"post","link":"https:\/\/lovepeacenslander.com\/index.php\/2018\/11\/15\/mta-to-buy-grand-central-terminal-for-35m\/","title":{"rendered":"MTA TO BUY GRAND CENTRAL TERMINAL FOR $35M"},"content":{"rendered":"
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According to the Daily Mail,\u00a0“New York’s Metropolitan Transportation Authority is expected to become the proud owner of the iconic Grand Central Terminal, Thursday, in a $35 million deal.<\/p>\n

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

‘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.
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\nThe MTA is expected to become the proud owner of Grand Central Terminal, on Thursday, in a $35 million deal<\/p>\n

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.
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\nThe MTA plans to buy the terminal, along with Metro-North’s Harlem and Hudson Line, from private holding company, Midtown Trackage Ventures<\/p>\n

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.<\/p>\n

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.<\/p>\n

It was built by the New York Central Railroad and opened in 1913. It’s said to attract approximately 750,000 visitors every day.
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\nThe MTA has leased the properties for the last 280 years. It is said to have paid more than $2 million a year to rent the terminal and tracks”<\/i><\/article>\n

SOURCE<\/a><\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/form>\n","protected":false},"excerpt":{"rendered":"

According to the Daily Mail,\u00a0“New York’s Metropolitan Transportation Authority is expected to become the proud owner of the iconic Grand Central Terminal, Thursday, in a $35 million deal. 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