SOM

SOM

6/16/17

SOM in the Press

State Finalizes $1.6B Deal for Moynihan Train Hall

Photo © Magda Biernat

Source: Commercial Observer

Related Companies, Vornado Realty Trust and Skanska have sealed a $1.6 billion deal with the Empire State Development Corporation to convert the James A. Farley Post Office into a train hall and commercial complex, Gov. Andrew Cuomo announced today.

...

The complex, to be known as Moynihan Train Hall, will host a 255,000-square-foot train hall for Long Island Railroad and Amtrak passengers and 730,000 square feet of office and 120,000 square feet retail space. Related and Vornado will operate and lease the commercial portion, the governor told reporters on a conference call this afternoon. The term of the deal is for 99 years. McKim, Mead and White designed the Farley building (as well as the long-defunct original Penn Station), and Skidmore, Owings & Merrill are handling construction of the new train hall inside the post office.

Continue to Full Article