Moynihan Train Hall

New York, New York / Empire State Development Corporation

From 2003 through 2014, WSQ was the development advisor and lead negotiator for one of the most significant public/private redevelopments in the country, converting the James A. Farley Post Office Building into the Moynihan Train Hall. The project, with a budget of  over $1 billion, created a new transportation hub for Amtrak and the Long Island Railroad, approximately 850,000 square feet of private development, and two million square feet of transferable development rights. Retained by the Empire State Development Corporation (ESD), WSQ laid the framework to transition the historic landmark into a mixed-use development train station.

WSQ led a multidisciplinary team to establish a viable development program and deal structure, marketing the project to developers, and issuing Request for Qualifications and Proposals.  On behalf of ESD, we evaluated responses and negotiated financial terms and conditional agreements, which formed the basis for the approved environmental documents and General Project Plan.  WSQ’s work was a critical component for ESD to purchase the Farley building from the United States Postal Service (USPS). WSQ also consulted with ESD in the negotiations with USPS, including overseeing the transaction documents and financial analysis.

WSQ also worked with ESD and the Port Authority of New York and New Jersey (PANYNJ), establishing appropriate phases for the redevelopment plans and securing Transportation Investment Generating Economic Recovery (TIGER) grant funding for the first phase of construction, which is currently underway. Today, the award-winning SOM-designed transit hub is a gateway to New York City for Amtrak and Long Island Railroad, anchored by 120,000 square feet of transit-oriented retail and Facebook, which leases 730,000 square feet of office space for its corporate headquarters.