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The Morning After: Speyer & Bloomberg Will Meet in London

Those darn gray boxes! They represent the portion of land left out of the 2005 rezoning of the Special Hudson Yards District?the western part of the rail yards that late yesterday led to the collapse of negotiations between Hudson Yards bid winner Tishman Speyer and land owner the MTA. A while back, the High Line Blog explained the rezoning, which is where we lifted the above image from (is that the Jets Stadium in there?!). But maybe the gray boxes are just an excuse. Maybe Tishman had buyer's remorse in light of the credit crunch and was just looking for a way out. Maybe, or maybe not. Charles Bagli reports in the Times that Jerry Speyer is flying from Milan to London today to meet with Mayor Bloomberg about the Hudson Yards. It was Speyer's son Rob who broke off the six-week-old talks with the MTA. Can the old men settle this over a hot cup of Earl Grey? The MTA probably hopes so. Writes Bagli, "But if the authority reopened negotiations with another bidder, it would almost certainly mean that it would get less money for the rights to the property, real estate executives said."
· Deal to Build at Railyards on West Side Collapses [NYT]
· Yardsmania: MTA Dumps Tishman Speyer, Chaos Ensues [Curbed]