MTA To Buy Grand Central Terminal, Harlem and Hudson Lines, For 35 Million

[MNCRR9000]

The MTA will soon be the new landlord at Grand Central Terminal.

The Metropolitan Transportation Authority is planning to buy Grand Central Terminal and Metro-North’s Harlem and Hudson lines from a private holding company for $35 million. The MTA’s full board is expected to authorize the purchase Thursday.

http://www.nydailynews.com/new-york/ny- ... story.html" onclick="window.open(this.href);return false;

[Backshophoss]

This will allow the final remains of PC corporate to cash out and disappear

[Ridgefielder]

This will allow the final remains of PC corporate to cash out and disappear

Believe it or not this is actually laying to rest an even older corporate ghost: the New-York and Harlem Rail Road. Cornelius Vanderbilt leased the Harlem his New York Central for 999 years in 1870 but the company was never officially merged out of existence. I believe the current owners bought the entity in 2000 or so and renamed it.

[SeanW]

What is the current status of the lines not owned by the MTA/Connecticut?

As I understand it, the state of New York owns the New Haven Line between Woodlawn and the CT state line, and the MTA/NY also owns the Harlem Line North of Dover Plains. But I was under the impression that PC corporate, which became American Premier Underwriters, or Midtown Ventures, or Penson and Venture or whoever APU sold their rail related assets to, owned GCT, the Harlem (South of Dover Plains) and Hudson lines as well as the New Haven Line in Connecticut? What is the current status of ownership East of the Hudson and what will this transaction change?

[DutchRailnut]

Connecticut part of New Haven line from Stateline to just east of New Haven station is owned by ConnDOT.
west of Hudson from suffern to just west of Port Jervis is owned by NS, but long time leased with option to buy to Metro North.


the New york portion of New Haven line from stateline to woodlawn is already owned by Metro North.

[R36 Combine Coach]

west of Hudson from suffern to just west of Port Jervis is owned by NS, but long time leased with option to buy to Metro North.

NS-owned but MNCR maintained (the trespassing signs are MNCR). Pascack Valley is NJT owned (up to and including Woodbine).

[Jeff Smith]

https://www.progressiverailroading.com/ ... nal--59979

Yeah, the articles a couple months old, but the sale has been consummated:

The Metropolitan Transportation Authority (MTA) has closed on its purchase of Grand Central Terminal in New York City from Midtown Trackage Ventures LLC.

The acquisition includes MTA Metro-North Railroad's Harlem and Hudson lines. The purchase ends MTA's 280-year lease of Grand Central and gives Metro-North control of its operating environment.
...
MTA announced in November 2018 that it would buy the station and the Hudson and Harlem lines for $35 million. The interest rate environment — paired with a discount offered by the seller — meant it was cheaper for MTA to buy the terminal rather than continue to rent, MTA Chief Development Officer Janno Lieber said at the time.
...