As the MTA looks to maximize its revenue streams, the company’s myriad real estate holdings have come under the microscope. The 270 Jay St. building remains controversial, and the reduced payment for the Vanderbilt Yards have left many raising an eyebrow. Another property dispute — this one involving less money — made some headlines this morning. The authority has begun eviction procedures against 3-Legged Dog, an experimental theater and media troupe currently renting space from the MTA at 80 Greenwich St. The group, which signed a 20-year lease in 2002 after its home at 30 West Broadway was destroyed on Sept. 11, owes the MTA $21,666.67 a month and had fallen behind in its rent payments by $306,000.
The eviction notice did not arrive without controversy. With the company raising a stink, two politicians urged the MTA to reconsider. Supposedly, part of 3-Legged Dog’s debt stems from their need to pay for asbestos abatement on the MTA-owned building. The authority, however, says the troupe is overstating the cost of this work. “I don’t know how anyone can justify letting this tenant rack up hundreds of thousands of dollars in back rent at a time when state cuts and deteriorating tax revenues have forced the MTA to lay off station agents and cut service,” spokesman Jeremy Soffin said to the Wall Street Journal. This move is indeed a prime example of Jay Walder’s efforts to make every dollar count.
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