Hotel Pennsylvania | TRD Research




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Hotel Pennsylvania

401 Seventh Avenue
New York, NY 10001

The 1,700-room hotel at 701 Seventh Avenue, across from the original Penn Station has been targeted for demolition several times, as owner Vornado Realty Trust considers building a 3-million-square-foot, 68-story office tower, a project known as 15 Penn Plaza, on the site. Vornado originally scrapped the plan in 2007 after Merrill Lynch decided not to lease space for new trading floors; in 2013 the REIT said it would launch a $300 million renovation, then in August 2014 Vornado said it might revive plans for the 15 Penn Plaza tower. Preservationists are seeking to preserve the 22-story hotel, which dates from 1917.

Vornado controls about 9 million square feet in the Penn Plaza area, with buildings such as One Penn Plaza and Two Penn Plaza; its holdings include about 780,000 square feet of retail space. About 600,000 commuters pass through Penn Station daily, in addition to tourists drawn by attractions such as Madison Square Garden.


  • Address 401 Seventh Avenue
  • neighborhood Penn Plaza
  • borough Manhattan
  • owner Vornado Realty Trust
  • owner entity GRAPSTEIN
  • floors 23
  • Year Built 1917
  • square feet 1,213,324
  • block and lot 1-00808-7501
  • BIN 1015191
  • Event Retail Leasing
  • Address 401 Seventh Avenue
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 24,881
  • Publication Date 08/20/2018
  • Event Date 08/13/2018
  • Party 1 401 Commercial LLC
  • Party 2 Candytopia
  • Party 2 Brokerage Winick Realty Group
  • Party 2 Broker Ian Zimmerman
The candy museum inked a lease for the Penn Plaza space.