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Weighing Extell vs. Ratner at Vanderbilt Yards

At the Brooklyn railyards, where Bruce Ratner wants to build an arena for his adorable basketball team, the rivalry heats up. Extell, which announced a surprise bid for the site a few weeks back, fleshes out its plans, including the fact that it's offering $150 million cash for the development rights to the 8.4-acre site, versus the $50 million Ratner has put on the table. (The estimated fair market value of the site, by the way? Er, $214 million.)

The Daily News endorses Ratner's plan, while The Real Estate and the anti-Ratner folks at Develop Don't Destroy each chart the differences between the bids. Us? We're loving the fact that Extell, despite having $150 million to throw around, apparently furnished an image of its plans to the New York Times that has not one but two giant creases running through it (above). Squint hard to make out the bar name peeking through from the back side of the napkin.
· Rival Bid Tops Ratner's Offer to Develop Brooklyn Site [NYTimes]
· Slam Dunk for Brooklyn [NYDailyNews]
· Comparing Bids at Atlantic Yards [The Real Estate]
· How the Bids Stack Up [Develop Don't Destroy]