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Both sides now plan to close on the western yard a year from now.
The developer is still negotiating a closing date for the eastern railyard; the closing for the western yard will take place a year later.
But every bidder wanted the western yard, because it is planned for residential development, which is considered less risky than the office towers on the eastern yard.
Tishman Speyer had sought to delay closing on the rights over the yard on the east side of 11th Avenue until it got a zoning change for the western yard, a process that could take 18 months.
Tishman Speyer sought unsuccessfully to delay closing on the rights over the yard on the east side of 11th Avenue until it got a zoning change for the western yard, a process that could take 18 months.
Under the terms of the deal struck in March, Tishman Speyer would have paid $18.8 million at the closing for the eastern yard later this year, and $24.7 million for the western yard sometime in 2009 or 2010.
Similar(53)
One evening he stopped by a Norfolk & Western train yard to watch the arrival of a steam-powered passenger train.
While on assignment for an advertising agency in Virginia, he stopped one evening by the Norfolk & Western train yard in Waynesboro to await the arrival of a steam-powered passenger train.
When the Hudson Yards Redevelopment Project's Western Rail Yard is finished in 2018, it will be elevated above the High Line Park, so an exit along the viaduct will be located over the West Side Yard, exiting out to the Western Rail Yard of Hudson Yards.
Puller's men fortified the western 1400 yards of the sector and the 164th soldiers took the eastern 1100 yards segment.
Even in these challenging economic times, the western rail yards presents a once in a lifetime development opportunity.
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