Extell Outbids Ratner 3:1

anonymous · July 2005

check out http://www.dddb.net/#bids

and

Rival Bid Tops Ratner's Offer to Develop Brooklyn
http://tinyurl.com/8gtrc
New York Times, July 23, 2005
By CHARLES V. BAGLI
A rival bidder to Bruce Ratner, the developer, has made a $150 million cash offer for development rights at the Atlantic railyard in Downtown Brooklyn, three times the amount Mr. Ratner bid for the property, where he proposes a $3.5 billion tower complex that includes a basketball arena for the Nets, stores, parks and 6,000 apartments.
continues at: http://tinyurl.com/8gtrc

anonymous · July 2005

Wow! That's a huge difference. I guess I should prepare to put my foot in my mouth.

anonymous · July 2005

unfortunately, i don't see any reason Ratner is not willing or able to up his bid to match it...he's got the money!

anonymous · July 2005

he does?

isa · July 2005

This editorial in the Daily News makes it sound like Ratner already won.

jamesondean · July 2005

Anonymous wrote: unfortunately, i don't see any reason Ratner is not willing or able to up his bid to match it...he's got the money!

Because the deadline has passed, and the bidding is now closed. The MTA chose not to make the bids public, so neither FCR nor Extell could see the other's bid. The fact that Extell's bid is so much larger should give them serious consideration. Now we'll see if the process is fair or not...

anonymous · July 2005

the process is not fair. never was. and won't be. if it was fair, the yards would be Extell's. but the MTA can still basically do whatever they want and negotiate with one party if they want. but they will find a way to say that because ratner is moving the yards and building a "world class rail yard" we like his insuluting bid better. of course Extell will build a new yard as well. don't be fooled.

as for what Isa said about the Daily News editorial. consider the source. garbage in, garbage out. they want Ratner to win, so they did contortions to make it seem like he has a higher bid. BUT he's been outbid, 3 to 1.

carnivore · July 2005

Anonymous wrote: as for what Isa said about the Daily News editorial. consider the source. garbage in, garbage out. they want Ratner to win, so they did contortions to make it seem like he has a higher bid. BUT he's been outbid, 3 to 1.

I couldn't agree more. The Daily News is a total rag. Look what they said about the subway searches:
http://www.nydailynews.com/front/story/330738p-282589c.html

anonymous · July 2005

Subject: Ratner Outbids Extell

FCRC's Bid Package for Railyards is $492 million while Extell's is for $300 million.

FCRC's Package includes: $182 million for the construction of a new Vanderbilt Yard; $20 million for Environmental Clean-up of the site; $29 million for improvements for mass transit facilities at the site; $25.4 million in operating expenses for MTA; and $23 million--- Extell does not factor in any of these issues in its bid.

steve austin · July 2005

Hey Guest, if you are so in favor of the Ratner proposal you should offer to sell your home and uproot your family as a show of support and empathy for the people whose houses will be taken by eminent domain.

[edited - daveb]

isa · July 2005

Carnivore wrote: [quote=Anonymous]as for what Isa said about the Daily News editorial. consider the source. garbage in, garbage out. they want Ratner to win, so they did contortions to make it seem like he has a higher bid. BUT he's been outbid, 3 to 1.

I couldn't agree more. The Daily News is a total rag. Look what they said about the subway searches:
http://www.nydailynews.com/front/story/330738p-282589c.html
Just for the record I wasn't saying the Daily News was awesome, I was saying it's weird that they make it sound like Ratner won. So I hope whoever is taking minutes updates the record.

anonymous · July 2005

JamesonVandy wrote: [quote=Anonymous]unfortunately, i don't see any reason Ratner is not willing or able to up his bid to match it...he's got the money!

Because the deadline has passed, and the bidding is now closed. The MTA chose not to make the bids public, so neither FCR nor Extell could see the other's bid. The fact that Extell's bid is so much larger should give them serious consideration. Now we'll see if the process is fair or not...

see...Ratner can come up with the money...and the bidding only closes when they get the result they want.
nothing in life is fair. i hate basketball.

alex · July 2005

Steve Austin wrote: Hey Guest, if you are so in favor of the Ratner proposal you should offer to sell your home and uproot your family as a show of support and empathy for the people whose houses will be taken by eminent domain.

[edited - daveb]

I wish I was lucky enough to own property in the footprint of the project so that I could take a buyout.

Extell Outbids Ratner 3:1

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