11 Penn Plaza

Midtown West, real estate trends

Apple signs lease for four floors at 11 Penn Plaza

By Michelle Cohen, Tue, February 25, 2020

11 Penn Plaza, apple, vornado

Streetview of 11 Penn Plaza, Map data © 2020 Google

After the Post first reported speculations of the deal in January, they now report that Apple will lease four floors of space at 11 Penn Plaza. Sources told the Post that the tech giant became interested in the 1.15-million-square-foot building that stretches along Seventh Avenue between West 31st and 32nd streets across from Madison Square Garden after losing out to Facebook on a spot in the Farley Building. However, those with knowledge of the deal say that Apple has only signed a five-year deal, which may suggest that they are still keen on finding a larger, more permanent home in NYC.

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Midtown West, New Developments

Rendering courtesy of FXCollaborative 

Macy’s, which recently announced plans to close 125 department stores over the next several years, is still hoping to cash in on the thriving office market by building an office tower above its Herald Square flagship store in Midtown. The retail icon revealed that it has proposed the construction of 1.5 million square feet of office space, a sky lobby, and public improvements to the surrounding area, the Wall Street Journal reports. The proposed tower would rise between 700 and 950 feet with, according to renderings revealed by YIMBY, a glass façade, setbacks, and a crown. The department store below could confer it with supertall status (984 feet or taller).

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