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Shearman & Sterling Advises on Moynihan Train Hall Redevelopment Project Financing

10 Aug 2017
Shearman & Sterling represented the U.S. Department of Transportation’s Build America Bureau (USDOT) on financing the construction of New York’s Moynihan Train Hall Redevelopment Project. USDOT will provide a Transportation Infrastructure Finance and Innovation Act (TIFIA) loan of $526.136 million (excluding capitalized interest) to New York State Urban Development Corporation (d/b/a Empire State Development), which will help transform the James A. Farley Post Office Building in Manhattan to include a modern, state-of-the-art train station and deliver critical improvements and expansions to ease congestion and delays in the Northeast Corridor rail service.

The Shearman & Sterling team included partners Cynthia Urda Kassis (New York-Project Development & Finance) and Chris M. Smith (New York-Real Estate); counsel Peter A. Strauss (New York-Real Estate); and associates Devin S. Lei (New York-Project Development & Finance), Jocelyn Bush Redman (New York-Real Estate), and Petra Plasilova (New York-Corporate Group).

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