Cablevision, Jets Submit Final Bids

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

The New York Sun

Cablevision and the Jets submitted their final bids to the Metropolitan Transportation Authority for the hotly contested 13-acre tract at the West Side rail yards but refused to disclose how much they offered.


A source close to the Jets negotiations said the team’s bid was $720 million, which does not include the price of the platform that would have to be built over the tracks.


The official amounts could be made public in the coming days as the details are combed through, an MTA spokesman, Tom Kelly, said.


“We have boxes and boxes of information and it will take time to go through it. I can’t simply pull out a page, and say how much the bid will cost,” Mr. Kelly told The New York Sun.


The Jets used the 5 p.m. bidding deadline to set up something of a pep rally, parading several former and current players down the sidewalk and into the MTA building on Madison Avenue at about 3:30 p.m., with the likes of Emerson Boozer, Joe Klecko, and Freeman McNeil traipsing by reporters in green Jets jerseys yelling: “This is for New York” and “Go Jets.” The footballers carried the types of metal briefcases that in movies are often filled with $100 bills. The Jets were tight-lipped about what was inside the briefcases.


Cablevision took a decidedly more manicured approach, holding a catered press conference at Radio City Music Hall, where, on a podium flanked by renderings of their plans, executives provided some details of their mixed-use development plan, called Hudson Gardens.


The Jets, which have said they would substantially increase their offer to the MTA, had previously bid $100 million to build a 75,000-seat stadium. Officially known as the New York Sports and Convention Center, the stadium would double as a convention hall for the neighboring Javits Center and as an Olympic Stadium, should New York be awarded the 2012 Summer Olympic Games. The city and state have committed to an additional $600 million, mostly to build a retractable roof for the stadium.


Cablevision, which owns Madison Square Garden and considers the Jets stadium potential competition for its convention business, had bid $600 million for a mixed-use residential development over the rail yards. This would be the company’s first foray into the real estate industry. With the help of Cambridge, Mass.-based architecture and urban-planning firm Chan, Krieger & Associates, it laid out a plan for nearly 6,000 housing units, including 800 deemed “affordable.”


TransGas also submitted an offer – $1 billion – for the development rights over the rail yard. The deal comes with a number of conditions and is likely to generate a cool reaction from the MTA, which is thought to be looking for a simpler deal. Two other little-known companies, Missak Financial Group and World Network International, submitted bids that were rejected by the MTA for, among other things, failing to include the $25,000 proposal deposit, Mr. Kelly said.


Even when the value of the Jets and Cablevision bids are disclosed, it may not be clear whose bid is higher, cautioned Mayor Bloomberg yesterday.


“This is not like selling a house. There are enormous differences and complexities in a project of this size. There are dollar amounts, but dollar amounts are measured in different ways,” Mr. Bloomberg said.


If Cablevision’s bid comes out on top, Mr. Bloomberg said, “We will cooperate with them and we’ll give them the same help that we have been giving to the Jets and anybody that wants to build in the city.” The mayor has been the chief supporter of the Jets stadium bid.


The Cablevision plan’s buildings would have a floor-area ratio of 10 that could be increased to 12. There would be a public elementary school and a public library, a five-acre park, and retail space along Eleventh Avenue. A performing arts center would be built for designers, artists, and theater groups, and a 750-room “moderately priced” hotel would also be constructed at the corner of 11th Avenue and 33rd Street.


Cablevision estimates the plan will create 3,200 construction jobs every year for the 12 years until the plan is completed, and will generate $100 million in city and state taxes.


The plan “gives hundreds of millions of dollars to the MTA, generates enormous direct and indirect tax benefits for the city, and eliminates the possibility of New York taxpayers paying more than $1 billion in public subsidies” for a Jets stadium, Madison Square Garden’s vice chairman, Hank Ratner, said.


The executive director of the political group The Hudson Yards Coalition, Jim Whelan, called the Cablevision plan “a thinly veiled effort to preserve its monopoly on sports and entertainment venues in Manhattan.” He added: “Shakespeare had ‘Much Ado About Nothing,’ Seinfeld had a show about nothing. Now Cablevision has a plan comprised of nothing.”


“Cablevision is for real, they came and asked the community what we wanted and they put it in the proposal,” said Anna Levin, the land use committee chairwoman for Community Board 4. “We wanted housing, a library, and a school, and they really heard what we had to say.” Ms. Levin, Joe Restuccia of the community group Hell’s Kitchen/ Hudson Yards Alliance, and several residents also spoke at the Cablevision press conference in support of the Cablevision plan.


The MTA is expected to make a decision on the bids at its board meeting on March 31.


The New York Sun

© 2025 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

or
By continuing you agree to our Privacy Policy and Terms of Use