City Seeks Proposals For Seven MTA Sites

NEW YORK CITY-In a move to reduce overhead and generate revenue, the Metropolitan Transportation Authority and the New York City Economic Development Corp. have issued requests for proposals for the disposition and reactivation of seven properties in Manhattan, Brooklyn, Queens and the Bronx, the organizations unveiled in a joint statement on Wednesday afternoon.

The RFP process comes as a result of the transit agency’s review of its real estate holdings in order to identify opportunities to increase revenues or reduce costs. According to the MTA, the titles to the seven properties are available for redevelopment under a master lease agreement, in which the properties are to be used by the MTA as required for transportation options.