Double the Money

The MTA board will vote Wednesday on whether to sell air rights over one of its rail yards in Brooklyn to Forest City Ratner for its Atlantic Yards project. A memo to board members makes it official: the MTA managed to wheedle $100 million out of the developer. That’s twice what Forest City originally wanted to part with, though still lower than the other bidder, Extell Development, was offering and what the appraiser thought the parcel was worth.

We are taking bets from anybody who thinks the board will say no.

–Matthew Schuerman Double the Money