Developers Express Interest in Moynihan Station Project

NEW YORK CITY-Boston Properties, Jones Lang LaSalle working with Tishman Speyer Properties, LCOR, the Staubach Co., the Related Cos. and Vornado Realty Trust are vying for the right to develop Moynihan Station. The companies each responded to the Request for Qualifications issued by the Empire State Development Corp. by last Friday’s deadline.

The project involves the expansion of the current James A. Farley Post Office building to link it to the current Penn Station. The $1-billion public/private effort involves 400,000 sf allocated for a new train station, 100,000 sf of retail space, 750,000 sf for private redevelopment and the possibility of up to a million sf of additional air-development rights. The US Postal Service revitalization will account for approximately 250,000 sf.

Calling the project “a gateway to the city,” ESDC chair Charles A. Gargano says the developers’ interest “confirms the need to create a new intermodal transportation facility. This project is the cornerstone for turning the area into a vibrant destination for people to work and shop.”