Interesting article concerning the luxritive air rights and underground real estate dealing concerning Grand Central and the New York MTA. When they mentioned an Insurance company I recalled the book "The Fall of the Penn Central" left the railroads assets in the hands of some sort of Insurance holding company. Apperantly those assets are still out there. The article did not really discuss what developers would do above and below the tracks but I hope they do not bury Grand Central exteriors views any thoughts or knowledge about this?
Another recent article in the NYTimes discuss the continued battles over the Penn Station, Farley Post Office and a New Madison Square Garden a side of town that is primed for development but must still save a grand building.