Proposed Hudson yards renderings: Tishman Speyer's at left, Durst-Vornado's at right
In spite of rumors suggesting Tishman Speyer, the real estate developer behind Rockefeller Center and Stuyvesant Town, has the upper-hand, the MTA is still seriously considering the bid from joint bid from Durst-Vornado for the 26-acre Hudson Yards.
The NY Times explains that while Tishman has the higher offer, the Durst-Vornado offer is only $30 million less. And the Durst-Vornado bid still brings Conde Nast as an anchor tenant (Tishman's proposed tenant Morgan Stanley is no longer) and has half the office space and twice the housing as Tishman, which could make it easier for city agencies to sign off on.
What Tishman's plan has is its company's "blue-chip aura" and "access to capital from around the world." And a source told the Real Deal the MTA is leaning towards Tishman, "This is not a [short-term] money play [for a developer that wants to cash out quickly] . This is a play for people who have a vision and track record of building and creating things with vision."
Still, Community Board 4's Anna Levin told the Times, “I think the Tishman Speyer plan will face the heaviest going in the public part of the city’s land use review process." Hmm - will the MTA demand modifications from Tishman for an easier-to-pass plan? The MTA board is expected to reveal its decision tomorrow.
