Seyfarth Shaw LLP represented Skanska USA construction during the bid stage and through commercial and financial close of the James A. Farley Post Office Building Redevelopment project. The $1.3 billion redevelopment project is being procured as a public private partnership (“P3”) by Empire State Development Corporation and Skanska, Related Companies and Vornado Realty. A joint venture of Related and Vornado will use Skanska for the design-build redevelopment of the Farley Building.
The Farley Building (the post office building opposite Penn Station) is being transformed by Empire State Development into a mixed use facility consisting of a new train station and train hall (Moynihan Station) and commercial space (office, retail and hospitality). The redevelopment of the Farley Building is the first of two steps in implementing Governor Cuomo’s vision for the Penn-Farley Complex - the second step of which is the overhaul and renovation of the adjoining Penn Station.
The site will be become a world class transportation facility over the next several years. The existing façade of the Farley Building will be retained, while the internal area will feature, in addition to the commercial space, a 210,000 square foot train hall (roughly the same size as the Grand Central Station concourse). A key feature of the train hall will be a giant skylight roof. When completed, Moynihan Station in the Farley Building will be the new site for Amtrak’s and the Long Island Rail Road’s train services in and out of New York City.
The Seyfarth team was led by partners Alison Ashford and Bennett Greenberg.