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NYC's Grand Central Terminal Will Be Sold for $35 Million to the MTA

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How the MTA Bought Grand Central for $35 Million

The Metropolitan Transportation Authority is buying a New York City landmark.

The subway operator’s finance committee approved the $35 million purchase of Grand Central Terminal, along with Metro North Railroad’s Harlem Line and Hudson Line from Midtown Trackage Ventures, a holding company, according to a statement from the agency. That company owns assets that once belonged to PennCentral Transportation, the railroad that went bankrupt in the 1970s.