Tag Archives: grand central

Even More About Bar Cars

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Continuing are article on Bar Cars. Picture above is when the current cars first started. CONNECTICUT POST got into the act today:

STAMFORD — As the state pours more than $1 billion into new rail cars, no money has been put into the tap to replace the 10 bar cars that are facing their last call by year’s end.

The state’s transportation commissioner has given assurances that bar car service along Metro-North’s New Haven Line will continue, but a final design for a bar car compatible with the new fleet of M8 cars has not been completed, and the legislature has not approved funding for them.

The bar cars on the New Haven Line — the last in operation on any commuter line in the country — are also facing competition from the more profitable drink carts on the platforms at Grand Central Terminal and from the need for additional seating as ridership continues to increase.

The fluorescent-lit, orange and wood-paneled cars have a dedicated following that seeks them out on websites and Twitter feeds, but as some of the 1970s-era trains have been retired and others go out for repairs, they are becoming a sort of speakeasy on the rails.

 

Railroads On Parade

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Used to be a great model train exhibit at Grand Central every Christmas sponsored by Citibank. After the Citigroup / Citibank layout contract was no longer renewed, Clarke Dunham moved the entire layout to his museum, “Railroads on Parade” in Pottersville, NY which is open to the public by admission tickets during the ‘summer season” (Memorial Day through the fall). Pottersville is just off the Northway I-87 in the southern part of the Adirondack Park, maybe 45 minutes north of Saratoga Springs, NY and well worth the trip.

See more about the Pottersville area on the Tahawus WebSite. Check out some great model railroads.

MTA Metro-North Railroad accident at “Sput” (Spuyten Duyvil)

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A MTA Metro-North train derailed at Spuyten Duyvil in the Bronx this morning. The accident killed at least four people and injured 63. The train was en route to New York’s Grand Central Station from Poughkeepsie, N.Y.

The derailment occurred at approximately 7:20 a.m. Five of the train’s seven cars derailed, but none went into the water.According to Metro North, the train left Poughkeepsie at approximately 5:54 a.m. and scheduled to arrive at Grand Central at 7:43 a.m. Service has been suspended indefinitely on the Hudson Line between Grand Central and Croton Harmon.

This would have been the first Poughkeepsie train of the day, but other trains from Croton-Harmon had passed by before this one.

From the MTA: Hudson Line service is suspended between Tarrytown and Grand Central due to the derailed train in the vicinity of Spuyten Duyvil. Bus service is being provided between White Plains and Tarrytown. Station for customers wishing to travel in and out of Grand Central. Customers at stations between Irvington and Yankees-E. 153rd St. Station are urged to use the Harlem Line, NYCT Subway and/or bus service. Hudson Line tickets will be cross honored for these services.

From AMTRAK: Amtrak Empire Line Service is currently being held between New York City and Albany due to an early morning derailment of a Metro-North commuter trainin Spuyten Duyvil, New York in the Bronx. The incident occurred on property owned and maintained by Metro-North Railroad. No estimate for restoration of Empire Line service is available from Metro-North at this time. Amtrak’s Northeast Corridor service between Boston and Washington is not affected.

 

Who Owns Grand Central Terminal in NY City?

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Some other great links:
From the WIKI

Argent Ventures is a privately held real estate company based in New York City that owns the land under Grand Central Terminal and the land around 156 miles of Metro-North Railroad railway tracks in the New York City metropolitan area.

Among other high profile buildings currently owned are:

The company was spun off in 1996 from by Andrew S. Penson from Amroc Investments which specializes in turning around distressed properties.[2]

Two of its earlier properties that have since been sold included:

Grand Central Deal

In the breakup of the Penn Central Railroad in 1976, the land under Grand Central and its associated tracks continued to be owned by Penn Central Corporation but leased to what became the Metropolitan Transportation Authority. Penn Central as a holding company changed its name to American Premier Underwriters in March 1994. It in turn was absorbed by the American Financial Group.

On December 6, 2006, the United States Department of Transportation announced Midtown TDR Ventures LLC had purchased the rights from American Financial.[3]

As part of the transaction the lease with the MTA was renegotiated through February 28, 2274.

The New York Post on July 6, 2007, reported that Midtown TDR is controlled by Penson and Venture. The Post notes that the MTA which will pay $2.24 Million in rent in 2007 has an option to buy the station and tracks in 2017 although Argent could extend the date another 15 years to 2032.[4] The big attraction to Venture are the development air rights it controls above the tracks.

References

 In 2006, Midtown Trackage Ventures, which included two institutional investors that Andrew Penson would not identify, bought Grand Central and 75 miles of track to Poughkeepsie and 82 miles to Wassaic, in Dutchess County, from American Premier Underwriters; American Premier’s parent, American Financial Group (which had acquired the bankrupt Penn Central’s real estate)….The Metropolitan Transportation Authority…pays $2.24 million in annual rent on a lease that expires Feb. 28, 2274. The authority has an option to buy the terminal and the tracks in 2017, which it is expected to exercise, although the landlord can extend that date to 2032.
Buildings and Landmarks January 29, 2013, 3:16 pm
Grand Central’s Flesh-and-Blood Landlord
By SAM ROBERTSThere is some confusion over whether Andrew S. Penson had even been invited to the gala celebration of Grand Central Terminal’s centennial on Friday night. Regardless, Mr. Penson says characteristically, he will be the man who didn’t come to dinner.

Ordinarily, the balding 52-year-old Mr. Penson might barely be noticed at such a star-studded event, much less missed. But his absence from the terminal’s birthday dinner, at the Oyster Bar, will strike New Yorkers in the know as a particularly glaring omission.

After all, Mr. Penson owns Grand Central.

http://cityroom. blogs.nytimes. com/2013/ 01/29/grand- centrals- flesh-and- blood-landlord/ ?ref=nyregion
Thanks to
Gary R. Kazin
DL&W Milepost R35.7
Rockaway, New Jersey

Mr. Penson is the President and Founder of Argent.  He has been involved in all phases of the firm’s development since its founding.  Prior to Argent, Mr. Penson led the real estate investment division of Amroc Investments Inc., a leading investment firm and the predecessor to Avenue Capital, a multi-billion dollar hedge fund.  Previously, Mr. Penson practiced law with Jones Day.  He is a member of New York Law School’s Board of Trustees.Mr. Penson earned a B.A. from the State University of New York at Stony Brook and a J.D. from New York Law School.

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