Hochul, Adams reach deal to partially pay for Penn rehab, expansion – Robert Khodadadian

City and state officials have come to terms on paying for the renovation and expansion of Penn Station — some of it, anyway. Gov. Kathy Hochul and Mayor Eric Adams announced on Monday an agreement over how the city will collect property taxes from the 18 million square feet of construction planned on sites surrounding the station. As expected, the city will continue to collect the property taxes it receives now on the development sites,

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Home Page, Politics, Eric Adams, Kathy Hochul, penn station The Real Deal New York Read More