Thursday, September 22, 2005
MTA's Kalikow dismisses own appraiser as "some guy"
As the Bergen Record reported 9/15/05 in MTA accepts Ratner bid for Brooklyn rights:
Kalikow dismissed his own agency's two-month-old appraisal, saying that $214.5 million "is just some guy's idea of what it's worth."
"That was his opinion, and it wasn't borne out by the marketplace," he added.
[Forest City Ratner's Jim] Stuckey said the MTA appraisal was unrealistic because it was based on a level of zoning "that doesn't exist on the land today." He also said that the construction of a platform, a storage facility, site cleanup and other improvements at the site would be worth $345 million - making the Ratner bid worth far more than the MTA had sought.
The exchange also made WNYC's 9/14/05 MTA Approves Brooklyn Railyards Sale to Ratner report.
Of course, the marketplace also was represented by Extell's $150 million bid, which also included plans to improve the site. There's been dispute about the legitimacy of that bid, but the MTA chose to negotiate solely with Ratner.