Moynihan development will cost $14B

July 05, 2007 12:00AM

Vornado Realty Trust and the Related Companies will soon release plans for the development of Moynihan Station that will involve creating 10 million square feet of office space off of West 33rd Street. The estimated price tag for the massive development–which includes rebuilding Penn Station and Madison Square Garden on the site of the Farley Post Office, as well as constructing two skyscrapers–has more than doubled to $14 billion, according to a source. more [NYT]

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