A developer for the West Side rail yards could be selected as early as tonight, with Tishman Speyer and a venture between the Durst Organization and Vornado Realty Trust leading the field, according to two people familiar with discussions.
The Metropolitan Transportation Authority, which owns the 26-acre rail yards site, whittled down the field to the two development teams as of last night, though discussions are ongoing and no decisions have been finalized, the people said. The Related Companies was said to not have a firm commitment from anchor tenant News Corp., hurting its bid.
Should a selection be made, it would need to be finalized by the M.T.A. board, presumably at its meeting next Wednesday.