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2 Penn Plaza

2 Penn Plaza
New York, NY 10001
Office, Retail, Leasing/Rental, Other

Built in 1968 as part of the Penn Plaza redevelopment project, this 32-story office building stands on the west side of 7th Avenue, between 31st and 33rd Streets. The McGraw-Hill Companies and the Madison Square Garden Company are among the tenants; Madison Square renewed 257,541 square feet in July 2014. The next month, marketing and communications firm UBM signed a 10-year lease for 26,444 square feet.

Landlord Vornado Realty Trust, which owns a total of about 9 million square feet of commercial property in the Penn Plaza District , including One Penn Plaza and 11 Penn Plaza, announced a $575 million refinancing of the building in December 2014, realizing net proceeds of about $143 million. The interest-only loan at LIBOR plus 1.65 percent matures in 2019, with two one-year extension options. The previous $422 million loan was swapped to a fixed rate of 4.78 percent, while the remaining $153 million will float until March 2018, after which the entire amount will float until the loan matures.

-NE

  • Address 2 Penn Plaza
  • neighborhood Penn Plaza
  • borough Manhattan
  • owner Vornado Realty Trust, Amtrak
  • owner entity NATIONAL RAILROAD PAS
  • block and lot 1-00781-0002
  • BIN 1083026
  • Event Retail Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 568
notes
The juice shop inked a lease for the Penn Plaza location.
  • Event Office Leasing
  • Address 2 Penn Plaza
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 12,270
notes
The engineering firm renewed a 7-year lease on the 11th floor.
  • Event Retail Leasing
  • Address 2 Penn Plaza
  • Neighborhood Garment District
  • Borough Manhattan
  • Square feet 575
notes
The donut shop whose original home is in a car wash signed a 10-year lease.
  • Event Office Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 12,200
  • Publication Date 09/01/2013
  • Event Date 07/23/2013
  • Party 1 Marks Paneth & Shron LLP
  • Party 1 Brokerage Colliers International
  • Party 1 Broker Ted Rotante
  • Party 2 Jacobs Engineering Group
  • Party 2 Brokerage Cushman & Wakefield
  • Party 2 Broker Michael Burlant
notes
The engineering firm signed a sublease on the fourth floor.
  • Event Retail Leasing
  • Building Name Penn Station
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 12,500
  • Publication Date 10/01/2009
  • Event Date 08/22/2009
  • Party 1 Amtrak
  • Party 2 Riese Organization
  • Party 2 Brokerage Riese Organization
  • Party 2 Broker Mark Stempel
notes
The restaurant operator signed a lease extension for the food court in the Amtrak waiting room at Penn Station. The food court, which had been closed for renovation since April, reopened last month. New eateries include Tim Hortons and TGI Friday's; existing restaurants include KFC, Pizza Hut and Nathan's.
  • Event Retail Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 6,540
notes
The drugstore signed a 12-year lease for another location.
  • Event Office Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 29,000
notes
The designer and manufacturer of business communications networks inked a deal to consolidate various New York offices.
  • Event Office Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 71,000
notes
The information management firm decided to expand and upgrade as it moved from a 13,000-square-foot space at 11 Penn Plaza.
  • Event Office Leasing
  • Address 2 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 6,083
  • Event Office Leasing
  • Address 2 Pennsylvania Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 30,000
notes
Non-profit to take space at 1 or 2 Penn Plaza in 2006
  • Event Office Leasing
  • Building Name Madison Square Garden
  • Address 2 Pennsylvania Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 1,600
  • Publication Date 01/01/2004
  • Event Date 11/22/2003
  • Party 2 Madison Square Garden Store
notes
Temporary Xmas store sells sports items

08/01/2014
The deal included 257,541 square feet on six separate floors at the 1.5-million-square-foot 2 Penn Plaza above Penn Station, and 60,976 square feet on the third floor at the 1-million-square-foot 11 Penn Plaza...

11/30/2010
Four of the top five deals the firm reported closed in October were for between 50,000 square feet and 70,000 square feet, including law firms Proskauer Rose taking 61,294 square feet at 2 Penn Plaza, and Schiff Hardin moving from 900 Third Avenue to 666 Fifth Avenue...