If at first you don’t succeed, pray that there’s another billion-dollar real estate bid to pick from. That was the option presented to New York’s Metropolitan Transportation Authority, the nation’s largest public transportation system, when a $1 billion bid to develop a 26-acre tract of land the MTA owned on Manhattan’s West Side fell through a week ago.
On Monday the state agency announced that it had a new $1 billion deal with The Related Companies, a subsidiary of Miami-based luxury condominium builder The Related Group, and its partner Goldman Sachs, for a 99-year lease to develop its Hudson Yards site.
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