New York City Comptroller John Liu on Tuesday called on Mayor Michael Bloomberg and the city's Economic Development Corporation to renegotiate a lease agreement with the Marriott Marquis Hotel that he said could cost taxpayers at least $345 million.

"This is one of worst deals since Manhattan was sold for $24," Liu said in a statement. "The EDC betrayed its fiduciary responsibility to act in taxpayers' interest when it recommended this sweetheart deal to the city in 1998. The clock is ticking — the lease set to expire in less than four years would let the Marriott Marquis purchase one of the hottest pieces of New York real estate for a fire-sale price of $20 million — that's 10 cents on the dollar compared to its value today."

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