The Real Deal New York

Here’s how Vornado plans to dominate Penn Plaza

Will Steve Roth’s repositioning of one of the biggest office portfolios in the city pay off?

March 10, 2016 09:30AM
By Rich Bockmann

Steven Roth with One and Two Penn Plaza

Steven Roth with One and Two Penn Plaza

From the March issue: Penn Plaza takes its moniker, of course, from Pennsylvania Station — the nation’s busiest transit hub. But Vornado Realty Trust, the mega-REIT that owns some 8 million square feet of office space in the area, has another name for it: the Big Kahuna.

With hot office markets like Hudson Yards (rising to the west), Chelsea (moving north) and Midtown South (coming in from the east), the Penn Plaza area is the company’s top priority. [more]