MTA gets 25M bananas for SoHo lot with fruit stand
The MTA is getting a bounty of $25.8 million for a lot on Broadway and East Houston where a fruit stand has operated for decades.
The 6,190-square-foot property on the southeast corner of the intersection has also been a parking lot for New York City Transit emergency vehicles. The money will go to the MTA's 2010-2014 capital program.
The full MTA board must sign off on the deal during its meeting Wednesday.
Developer Madison Capital will take the land and offer the MTA a $13-million parcel to house its emergency vehicles on East 20th Street in the Flatiron District.
A spokesman for Madison Capital said in an email that the developer looks forward to "creating an exciting commercial development on Broadway and Houston Street at the gateway to SoHo." He did not respond to a question about the future of the long-standing fruit stand.