MTA To Buy Grand Central For 35 Million

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MTA To Buy Grand Central For 35 Million

Postby MNCRR9000 » Tue Nov 13, 2018 9:42 pm

The MTA will soon be the new landlord at Grand Central Terminal.

The Metropolitan Transportation Authority is planning to buy Grand Central Terminal and Metro-North’s Harlem and Hudson lines from a private holding company for $35 million. The MTA’s full board is expected to authorize the purchase Thursday.


http://www.nydailynews.com/new-york/ny- ... story.html
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Re: MTA To Buy Grand Central For 35 Million

Postby Backshophoss » Wed Nov 14, 2018 6:46 pm

This will allow the final remains of PC corporate to cash out and disappear
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Re: MTA To Buy Grand Central For 35 Million

Postby Ridgefielder » Thu Nov 15, 2018 12:26 pm

Backshophoss wrote:This will allow the final remains of PC corporate to cash out and disappear

Believe it or not this is actually laying to rest an even older corporate ghost: the New-York and Harlem Rail Road. Cornelius Vanderbilt leased the Harlem his New York Central for 999 years in 1870 but the company was never officially merged out of existence. I believe the current owners bought the entity in 2000 or so and renamed it.
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Re: MTA To Buy Grand Central For 35 Million

Postby SeanW » Sat Dec 22, 2018 3:32 pm

What is the current status of the lines not owned by the MTA/Connecticut?

As I understand it, the state of New York owns the New Haven Line between Woodlawn and the CT state line, and the MTA/NY also owns the Harlem Line North of Dover Plains. But I was under the impression that PC corporate, which became American Premier Underwriters, or Midtown Ventures, or Penson and Venture or whoever APU sold their rail related assets to, owned GCT, the Harlem (South of Dover Plains) and Hudson lines as well as the New Haven Line in Connecticut? What is the current status of ownership East of the Hudson and what will this transaction change?
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Re: MTA To Buy Grand Central For 35 Million

Postby DutchRailnut » Sat Dec 22, 2018 4:29 pm

Connecticut part of New Haven line from Stateline to just east of New Haven station is owned by ConnDOT.
west of Hudson from suffern to just west of Port Jervis is owned by NS, but long time leased with option to buy to Metro North.


the New york portion of New Haven line from stateline to woodlawn is already owned by Metro North.
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Re: MTA To Buy Grand Central For 35 Million

Postby R36 Combine Coach » Wed Jan 02, 2019 9:16 pm

DutchRailnut wrote:west of Hudson from suffern to just west of Port Jervis is owned by NS, but long time leased with option to buy to Metro North.
NS-owned but MNCR maintained (the trespassing signs are MNCR). Pascack Valley is NJT owned (up to and including Woodbine).
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