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Author: 
Anonymous
Unsurprisingly in the wake of the subprime crisis and general market shakiness, much of the Rail Yards dialogue has turned away from design and towards financials.

Of course, guessing is a bit tough, given the MTA's refusal to make the financial bids public (which the HYCAC called for as part of its summary of top community concerns).

Background on the financial situations of each of the developers has led to a lot of speculation over which one would be the surest bet for the MTA, an agency that knows its way around fiscal headache.

A Crain's editorial recently endorsed Related and Tishman Speyer for the site, pointing to anchor tenants to add heft to the deal:
"There are no more resourceful, experienced or financially solid real estate companies in New York. Their tenants, News Corp. for Related, and Morgan Stanley for Tishman, offer a strong likelihood the project will get off the ground."
The Crain's site is for subscribers only, but the complete editorial is after the jump.

The MTA still plans to announce a decision by the end of March.
Author: 
Anonymous
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Author: 
Anonymous
Friends of the High Line (FHL) is a 501(c)(3) non-profit organization dedicated to the preservation and reuse of the High Line, a 1.5-mile-long historic elevated rail structure on the West Side of Manhattan.

Author: 
Anonymous
Charles Bagli writes in the Times today that Governor Spitzer's decision to curtail Javits expansion and sell off two adjacent parcels of land is raising some hackles among others in the West Side Development arena. Among the opponents are Senator Schumer and Speaker Quinn. One of the parcels is the 33/34 block, just north of the Western Rail Yards, where the High Line comes down to grade.

Author: 
Anonymous

Welcome to the second in our series of posts running down the track records of the various companies competing for the opportunity to build lots and lots of buildings over the West Side Rail Yards. Today we focus on Extell, whose Steven Holl-designed plan (above, and here) has probably received the most architectural critical praise.

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Extell, formerly Intell Management and Investment Co., has been an NYC real estate player since 1994, although their profile has heightened considerably in the last few years, especially since their name change in 2005. They are steered by CEO Gary Barnett, a former diamond merchant.

The company notably attempted to play the spoiler during the bid process for Atlantic Yards redevelopment in Brooklyn, submitting a proposal that -- unlike competitor Forest City Ratner's controversial, ultimately adopted plan -- would not have required the usage of eminent domain, or have included a stadium for the NBA's Nets. The Real Deal offers a pretty good rundown on the company here.

After the jump, we have a summary of some of Extell's more notable projects and properties, with pretty illustrations to boot.

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