Penn Station: The new home to NYC’s hottest thrill ride?

Brooklyn Capital Partners hopes to build a free-fall tower

New York /
Jun.June 16, 2016 05:00 PM

If a Brooklyn developer gets his way, New Yorkers will soon hear screams coming from Penn Station.

No, not because of the soul-crushing decor, but due to a free-fall tower Brooklyn Capital Partners hopes to build on top of Madison Square Garden or the James A. Farley Building. The firm has proposed building a 1,200-foot-high ride called “The Halo” in order to help pay for the planned $3 billion redevelopment of Penn Station and the post office, known as Moynihan Station, the New York Daily News reported. The firm estimates that the ride could bring in $38 million annually. It could also attract as many as 7.8 million visitors to an already very busy area of the city.

“I think it’s going to change the tone to one of anticipation, excitement, the thrill of being in New York rather than the drudgery of being in Penn Station,” Alexandros Washburn, president of Brooklyn Capital Partners, told DNAinfo.

State officials have told the firm that the ride doesn’t conform to the request for proposals issued in January because the plan doesn’t include issuing a $15 million bond. It remains to be seen, however, if the design idea will catch on.  [NYDN]Kathryn Brenzel


Related Articles

arrow_forward_ios
Vornado Realty Trust chairman Steve Roth and 401 Seventh Avenue (Getty, LoopNet, Vornado Realty Trust)
Vornado eyeing NYC’s casino sweepstakes
Vornado eyeing NYC’s casino sweepstakes
From left: Maverick Real Estate’s David Aviram and Chetrit Group's Meyer Chetrit along with 255 West 34th Street (Getty, Google Maps, LinkedIn/David Aviram, Chetrit Group)
Maverick sues Chetrit over unfinished Penn Station hotel
Maverick sues Chetrit over unfinished Penn Station hotel
Vornado’s Steve Roth and Michael Franco (Getty, Vornado)
Office stocks are “stupid cheap,” Vornado’s Roth says
Office stocks are “stupid cheap,” Vornado’s Roth says
Vornado's Steve Roth and Gov. Kathy Hochul with plans of Penn Station (Getty, FXCollaborative)
Lawsuit: State mishandled Penn project, did Vornado’s bidding
Lawsuit: State mishandled Penn project, did Vornado’s bidding
Governor Kathy Hochul with rendering of redesigned Penn Station (Getty, MTA)
Hochul taps team to redesign Penn Station
Hochul taps team to redesign Penn Station
Vornado ceo Steven Roth and One Penn Plaza (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Vornado Realty Trust)
Vornado’s Roth sees “choppy” market, chides Penn skeptics
Vornado’s Roth sees “choppy” market, chides Penn skeptics
Vornado’s Steven Roth and Governor Kathy Hochul with Penn 15 and Penn Station (Getty, DBOX, MTA)
Penn Station vote clears way for deals with developers
Penn Station vote clears way for deals with developers
NY governor Kathy Hochul and 550 West 20th Street (Getty, Google Maps)
State raises shuttered Chelsea jail for supportive housing redevelopment
State raises shuttered Chelsea jail for supportive housing redevelopment
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...