NEW YORK CITY-The Metropolitan Transportation Authority sold several properties, including the site of a fruit stand in Soho here, for nearly $40 million.
The MTA finalized the sale on Wednesday to sell the 6,190-square-foot lot, part of which houses a fruit stand, to an arm of New York City-based Madison Capital for approximately $26 million, according to the Wall Street Journal.
Also part of the deal is a parking lot on East 20th Street, which Madison will purchase for $13 million and turn over to the MTA in order to house vehicles it now stores on Houston Street.
"We had not predicted anything like this kind of money for this...somewhat oddly shaped triangular parcel down in SoHo," Jeffrey Rosen, the MTA's director of real estate, said when speaking before the authority's finance committee on Monday. See story in the Wall Street Journal.
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