Saturday, January 3, 2009

Office tower to replace Hotel Pennsylvania?

Steve Roth’s Vornado Realty Trust has filed an application with the city to rezone the site of the 90-year-old Hotel Pennsylvania, clearing hurdles for the real estate firm to demolish the hotel and build an office tower of up to 2.85 million square feet in its place.

In paperwork filed with the Department of City Planning, Vornado indicates it wants to rezone the site on 33rd Street and Seventh Avenue to allow for the development of a skyscraper of up to 1,198 feet, one that could hold one major tenant with a large set of trading floors, or a multi-tenant building with a large base of retail.

Mr. Roth, Vornado's chairman, has long billed the 1.4 million-square-foot hotel site as a prime development parcel, part of what he imagines as a completely remade office district surrounding Penn Station (Vornado owns about 7 million square feet of commercial space in the area and has the potential to develop millions more if the redevelopment of the station, known as Moynihan Station, ever happens). He previously called the hotel “a placeholder, sort of like a parking lot, but in this case with $22 million of earnings.”


Finally, Checkout Time for Hotel Penn?

5 comments:

Anonymous said...

Oh great another built like sh*t curtain wall skyscraper target.
Where does token one think he's going find tennants above 60 floors Jerry Lewis ? Perhaps he should talk a chat with Larry Silverstien at Bloombergs next satre dinner uptown

#2 A complex system of subway tunnels is under that property (including a secret track and entrance Roosevelt used) you cant get to bedrock properly without making a hugh mess of one of the biggest transportation hubs in the world.

....Duh ?
What wrong with the Penta in the first place Shea Stadium syndrome ?
Is Gonzalaz selling bad Tacos ?
I was just at the AES convention last year

Anonymous said...

Umm, ok, I THINK I agree with you, but could you translate the last part of that last post into some form of UNDERSTANDABLE English, please???

honeybunny said...

Spent one week recently in Penn, nice but in need of renovation, hotel.

Especially i remember good coffee from downstairs Dunkin´and superb location of the hotel, everything was so close by...

Bellboy said that hotel was ready for demoliition year or two back but current econimic climate had stopped any plans...

Wade Nichols said...

Welcome to the Hotel Pennsylvania,
Such a lovely place, such a lovely face,
Plenty of room at the Hotel Pennsylvania,
Any time of year (any time of year) you can find it here......

Pro-Zak said...

If the building falls, what will happen to their famous phone number?