The Real Deal?

Oddly, Charles Gargano, the state official behind the Moynihan Station redevelopment, gave this response, through a spokesman, when asked about the Crain’s report: “We cannot speculate on the potential impacts that may exist between parties.” Odd, because it is an aggressive no comment. A mayoral aide said: “We have not seen any proposal to date and it is unclear whether MSG could keep their tax break should they move.”

Our limited understanding of tax law, however, makes us think the tax issue is a moot point: the station will become state property, which is only subject to local taxation under special arrangement with the city (as with Battery Park City).

Steven Spinola, president of the Real Estate Board of New York, said he saw Related’s president Steve Ross yesterday. “He was very happy,” Spinola told us, without confirming the deal had been signed. Howard Rubenstein, who is repping Related, said, “Both Related and Vornado will have no comment about that report.” He said they will have no announcement tomorrow either.

The silence is deafening.

Matthew Schuerman

The Real Deal?