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Vornado offers 10 months free rent at One Penn Plaza

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According to the Observer, Vornado Realty Trust offered 10 months of free rent to the Dormitory Authority of the State of New York, which occupies 35,000 square feet on the 52nd floor at One Penn Plaza. The Dormitory Authority was planning on moving to 4 Metrotech Center in Brooklyn when its lease expired at One Penn Plaza, but a spokesperson said “market conditions moved in our favor,” and the authority was able to sign a new 12-year lease with Vornado.

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