April 8, 2015
Developer Vornado Plans to Spend Hundreds of Millions on Revitalizing Penn Station Area
Most New Yorkers only venture to the area around Penn Station when it's absolutely necessary–traveling to New Jersey or Long Island, going to a business meeting at Penn Plaza, or seeing a Rangers game. Otherwise, we avoid it like the plague. But Vornado Realty Trust, one of the country's largest office landlords–they own roughly nine million square feet around Penn Station worth $5.5 billion–is hoping to do a complete 180 on the area by "investing hundreds of millions of dollars in new retail space, public plazas and other infrastructure, according to real-estate executives briefed on the plans," according to the Wall Street Journal.
More details ahead
More details ahead
