MTA Declares Tishman Rail Yards Deal Dead; Looks Back to Other Bidders [UPDATED]

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By Eliot Brown

May 13, 2008 | 2:27 p.m

Tishman's rail yards vision, not to be.

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Big news from the M.T.A. via a statement. After Tishman Speyer tried over the weekend and in the past two days to revive talks, the state agency has officially stopped discussions and is opening up talks again with other developers.

From M.T.A. spokesman Jeremy Soffin:

The MTA met today with Tishman Speyer. Despite the best efforts of both sides, a final agreement could not be reached. The MTA has now re-entered discussions with other interested developers and remains committed to timely development of these unique and valuable parcels of land on Manhattan's Far West Side.

Update 2:45 p.m.

In a statement, Tishman Speyer president Rob Speyer said the company withdrew its bid this morning:

We have negotiated in good faith with the MTA for the last several weeks regarding Hudson Yards and could not come to a final agreement that was satisfactory to both of us. This morning we informed the MTA that we are withdrawing from the process immediately so it can proceed in another direction.

We appreciate the MTA's commitment to develop Hudson Yards into a great place for New York and wish it the best as it pursues other alternatives. We want to express our gratitude to Mayor Bloomberg for his extraordinary efforts and leadership through this negotiation to facilitate a deal.