Madison Square Garden all set to move to Moynihan station.
On Friday, several news sources reported that Cablevision has signed an agreement to move the facility to the James Farley Post Office building on Ninth Avenue, which is slated to become the home of the Daniel Patrick Moynihan Train Station.
The current MSG facility will be demolished and replaced by a mixed-use development.
The move has been in the pipeline for several years, but might have been sidetracked by the debate surrounding the development of the West Side Jets Stadium. The city administration showed significant support for the project, but Cablevision's owner, James Dolan, opposed it, afraid the new facility would take away business from the MSG venue. Last week, the Jets dropped their antitrust law-suit against Cablevision. In exchange, Cablevision dropped its counter claim.
Officials at Cablevision refused to comment on the transaction, but a spokesman for the Moynhian Station Redevelopment Corp. said the train station development would not be affected by the move in any way.
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|Publication:||Real Estate Weekly|
|Article Type:||Brief article|
|Date:||Mar 8, 2006|
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