Posted Nov 14, 2019, 11:26 PM
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Registered User
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Join Date: Nov 2019
Posts: 1
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Quote:
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As part of the Rudin plan, JPMorgan agreed to transfer air rights and pay $35 million to the developer, according to a public document. JPMorgan, which is splitting some construction costs with the MTA, will receive $45 million from the authority to reimburse it for the cash payment and air rights passed to Rudin. The deal is “a substantial step forward” toward improving access to midtown Manhattan for Long Island commuters, said Aaron Donovan, a spokesman for the MTA.
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Does anyone understand why the MTA is reimbursing JPMC? Or why JPMC is paying Rudin?
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