NEW YORK CITY-After two years of trying to hammer out a new 30-year lease, the city and the Hunts Point Terminal Produce Market say they are at an impasse.
"I'm not sure either party thinks there is any progress that can be made with further talks; the deal fell apart," says Matthew D'Arrigo, co-president of the cooperative of 41 merchants.
The last offer on the table was a deal by the city to extend the lease by 10 years while it continued to negotiate an agreement to renovate the facility, home to the world's largest wholesale produce market. That offer was rejected in January by the cooperative. See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
