New York’s Metropolitan Transportation Authority is offering to buy the condominiums of the owners of a few luxury condottieries in the city for $100,000 each.
The Metropolitan Transportation Commission says the sale is for a building that is a mix of residential and commercial, and includes an open-air space and an open floor plan, but will also include a “small-scale renovation of the interior space and furnishings” of the properties.
The purchase price is $250 million, but a portion of the sale proceeds will go to the city’s transportation fund, the MTA says.
It will be paid for through the sale of the condos, the commission says.MTA spokeswoman Lisa Miller said the agency is currently negotiating with the sellers and is expected to announce the final price in the coming days.
The Metropolitan Transportation Museum is the seller of the buildings.
In the mid-1980s, the city and the developers of the three condominium complexes that made up the Metropolitan Transportation Center decided to sell off the entire property, leaving only a small footprint of the former transportation center.
The buildings, which have since been redeveloped, are a popular tourist attraction in the Central Park neighborhood, and were used as offices and retail spaces in the 1980s and 1990s.
The properties are located along the Upper East Side.