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January 31, 2005
Stadium Land Could Cost Jets $300 Million
The NY Times: Real Estate beat reporter Charles Bagli breaks the story on just how much the independent appraisal of the Hudson Railyards has valued the site for the Jets Stadium.
The Metropolitan Transportation Authority wants the Jets to pay nearly $300 million, or nearly three times what the team has offered, for the rights to build a 75,000-seat stadium over the railyard on the Far West Side of Manhattan, according to executives who have been briefed on the negotiations.
The gap between the two numbers, which are based on each side's land appraisals, sets up a showdown on the value of the property, which represents one of the last hurdles in the Jets' quest for a new home in Manhattan.
Posted by lumi at January 31, 2005 6:45 AM