« Real Deal on Prospect Heights: new condos, fluctuating prices | Main | Bloomy slightly sours Bruce’s sweet deal from the state »

July 27, 2007

Marty’s blind spot

The Brooklyn Paper

MartyMarkowtiz-MP.jpg While the Brooklyn Borough President rails against a transit fare hike, he can't say enough nice things about the sweetheart deal between Bruce Ratner and the MTA (isn't that's OUR MONEY TOO?):

The Beep, a strong supporter of the Atlantic Yards project, put out an angry press release on Wednesday railing against a Metropolitan Transportation Authority plan to cover an expected $300-million deficit next year by hiking subway fares by 10 percent.

Here’s where the fancy footwork comes in.

Markowitz’s beloved Atlantic Yards project is largely being built over land that the MTA sold to Ratner in 2005 for a mere $100 million — $114 million less than the MTA’s own appraisal said the development rights were worth. In a truly open market, those rights might have even gone for more.

Not only did Markowitz not object to the MTA’s fare-busting giveaway, he loudly supported it, calling it “good for Brooklyn.”


Posted by lumi at July 27, 2007 7:38 AM