Shearman And Sterling

News August 10, 2017

Moynihan Train Hall Redevelopment Project Financing

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 Team