Source: Google Maps

In an effort to offload defunct properties and reduce overhead, the MTA has issued a Request for Proposals from developers to rehabilitate and put to use seven defunct properties around the city – including an old electrical substation in Midwood.

Located at 851 East 15th Street, near Avenue I, the 7,920 square foot property is located mid-block, just before the footbridge spanning the open cut railroad line that crosses Brooklyn. It abuts the tracks for the B/Q Brighton line, and has been a haven for graffiti and illegal dumping for years.

Now that property, located in an R5 zoning district, is hitting the market – likely for a residential development.

The RFP comes after a year of reviewing the MTA’s real estate assets in an effort to increase revenue and reduce costs.

“Given the current financial picture facing the MTA, we have an imperative. We must do anything and everything we can to raise revenue and reduce costs in order to minimize the need to turn to fares, tolls and taxes,” said MTA Chairman Joseph J. Lhota. “Our real estate department is pursuing that imperative by thoroughly reviewing our real estate holdings and identifying properties that we could potentially offer for sale or lease. Finding properties that we own but don’t need in order to operate service is not an easy task. In fact, most of the properties that fell into that category have been sold off long ago by our public and private predecessors.”

The MTA and New York City Economic Development Corporation will accept proposals for about a year, with four deadlines beginning on June 29. Details can be found on the EDC’s website.

The other properties up for development are:

  • 19 East Houston Street in SoHo.
  • Gun Hill Road and I-95.
  • 351 East 139th Street in Mott Haven, Bronx.
  • 707 East 211th Street in Williamsbridge, Bronx.
  • 379 Van Sinderen Avenue, East New York.
  • 103-54 99th Street in Ozone Park, Queens.

If not a residential development, what would you like to see in that location?

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  • nolastname

    “must do everything and everything”

    • http://www.flickr.com/photos/lisanne001 Lisanne!

      And then some.

  • http://www.flickr.com/photos/lisanne001 Lisanne!

    Has to be residential, given the make up of that block. Hopefully it will be residential and three stories or less.

  • nolastname

    I wonder what this building is? On 3rd and 3rd in Brooklyn. The whole block is under some serious construction for a super store. I think it was a utility companies at one time.
    http://www.flickr.com/photos/34224145@N04/6800419802/in/photostream

  • http://www.brucebrodinsky.com Bruce B

    What I’d like to know is the obvious question: evidently from the picture, the property hasn’t been used in eons. What the heck takes MTA so long to decide that it could make some money selling the place?

    Thus, for years, they held onto unused property. Figure out how much money was lost.

  • Cyclelife bike group

    Community Garden and green space. 

  • NI51965

    I still can’t understand,why anyone would want to live next to the train tracks.

  • http://twitter.com/ologhaiofmordor Olog-hai

    @nolastname: Answer here: 
    http://www.brownstoner.com/blog/2012/03/lot-reduction-of-whole-foods-landmark-still-needs-ok/

    Edit: I meant to click Reply, and I can’t delete this. Oops.

    • nolastname

      TY very much. Great article with plenty of information.