42nd Street Bus Terminal

Port Authority of New York and New Jersey

Developer Selection and Negotiations — New York City, NY

42nd Street Bus Terminal

The Port Authority issued a Request for Proposals (“RFP”) for development of the over one million square feet of air rights over the bus terminal located at 42nd Street and 8th Avenues in New York City. RESGroup assisted the Port Authority to review developer proposals for the development of the air rights, and analyzed the financial proposals submitted by five developers proposing to develop approximately one million square feet of office, hotel and retail space over the existing terminal, and assisted in the negotiations of a land lease with the selected developer.