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Thread: New Penn Station (Moynihan Station)

  1. #2326
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    Why not kill Ratner's Atlantic Yards and reconceive a development of multiple develop developments with a new Brooklyn home for MSG?

  2. #2327
    Disgruntled Optimist lofter1's Avatar
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    Why would the Dolans do that ^?

    They are the ones in control of MSG -- nothing happens to it without lots of $$ in their pocket (one way or another).

  3. #2328

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    The Dolans would have to be crazy.

    Well, maybe.

  4. #2329

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    The Dolan are greedy schmucks. I can't stand those guys.

    I'd love to see the Garden burn down (assuming that no one were injured).

  5. #2330

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    where do the air rights go if the arena stays---any new tower potentia?

    oh, garden cud b moved to the w side...over the light idstry over thre

    lov to see a brand new msg on the riverfront

  6. #2331

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    Even if the Dolans were not a problem, moving the Garden to a new, stunning location further west would be impossible. Although that area is now a complete and utter slum filled with taxi repair shops, etc., every resident would come out in full force to oppose it as if the area were the Upper West Side or Greenwich, Ct.

    In a city as anti-development (and pathetic) as NY, MSG will be there for a very long time.

  7. #2332
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by futurecity View Post

    ... oh, garden cud b moved to the w side...over the light idstry over thre

    lov to see a brand new msg on the riverfront
    Sorry, fc, but you really need to do some reading up and get with the program.

    Using that other finger might help, too.

  8. #2333

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    Hopefully, the renovations won't occur, and this POS will be razed.

    http://therealdeal.com/newyork/artic...an-anticipated

    MSG renovations to be far more costly

    February 02, 2010 09:20AM

    Madison Square Garden Madison Square Garden is in need of $850 million in renovations, the arena's management said, and it may not be able to afford them. Previous estimates had pegged the upgrades at $500 million and the Knicks had secured a $375 million loan to help cover the work last week. The rest was to be covered by inter-company loans and the basketball team's existing cash flows. Last week's loan terms stipulate that the arena's debt can only be six times as large as its cash flow, and it's already getting close at a 5.33 leverage ratio once the loans are drawn, according to research firm CreditSights. One option for the Knicks is to raise ticket prices. Another is to allow player contracts to expire at the end of this season without picking up the tab for any new sky-high salaries, or to borrow some cash from parent company Cablevision Systems. Still, there is the possibility that the Garden's renovation project could be even more costly than the $850 million now projected. "The New York City construction project that comes in on budget and on time is as rare as a C train after midnight," CreditSights quipped. [Crain's']
    Last edited by londonlawyer; February 2nd, 2010 at 12:55 PM.

  9. #2334
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    Since Al Quaeda is so fond of blowing things up, they should really target this MSG eyesore.

    Ka-boom! Hopefully with only James Dolan, Sam Chang and Gene Kaufman in it (the three of whom just happens to be in there discussing real estate / renovations) .

    (With minimum damage or disruption to the surroundings of course. )

  10. #2335
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    The new arena in Brooklyn will put pressure on MSG to renovate or replace. Despite its history, MSG will be the most outdated sports center in the city. With the Loews restoration announced and the new arena, there will be direct challenges to the Dolan's MSG and Beacon Theater.

  11. #2336

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    I really hope that the Barclays Center kills MSG and that that site is redeveloped.

    I wonder if the air rights from The Hotel Penn could be transferred to MSG.

  12. #2337
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    NY Post


    Schumer: $83M to convert Post Office into new Penn Station


    Last Updated: 2:59 PM, February 16, 2010

    Posted: 10:18 AM, February 16, 2010

    Sen. Charles Schumer says the federal government will award $83.3 million for a project to transform New York Cityís main post office building into a rail gateway.

    Schumer said Tuesday the funding will come from the American Reinvestment and Recovery Act.

    The senator said the project would create thousands of jobs and kick-start development across the west side of Manhattan.

    The new station is to be named after the late Sen. Daniel Patrick Moynihan.

    Itís intended to increase capacity and restore some grandeur to the cityís main rail center. The Beaux-Arts landmark that was home to the original Penn Station was demolished in 1963. It was replaced by the Madison Square Garden arena.

  13. #2338
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  14. #2339
    Disgruntled Optimist lofter1's Avatar
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    How does that $83M fit in with previous estimated costs for the Moynihan project?

    Here's what NY1 is saying now:

    The federal funding would go toward paying for the first phase of the two-part project. Schumer said the first phase – which is expected to cost about $210 million dollars – would expand and modernize the existing Penn Station by doubling the size of the often-cramped waiting area in Penn Station.

    It would also provide access between Penn Station and the future station – to be named after the late Senator Daniel Patrick Moynihan. The first phase would also include infrastructure improvements, like new elevators, escalators and stairs to connect passengers to train platforms.

    Construction on the first phase of this station project could begin within a matter of months, and may take up to five years to complete.

  15. #2340

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    Quote Originally Posted by londonlawyer View Post
    I wonder if the air rights from The Hotel Penn could be transferred to MSG.
    MSG already has 6 million square feet of air rights, or enough to build possibly the two tallest office towers in NYC.

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