02.01.2026 PENN District poised to grow by another block, replacing ‘junky retail’ — NYC loses retail giant
Vornado Realty Trust’s PENN District transformation is poised to grow by another whole block.
The powerful REIT plans to create what a source called a “cohesive street-level experience” on both sides of Seventh Avenue between West 33rd and 34th streets, replacing what Vornado chairman Steve Roth recently called “junky retail.”
Vornado quietly bought up one parcel after another on the nondescript but heavily-trafficked block over the past few years. The next step, our sources said, will be demolishing the unattractive small buildings on the east side, to be followed by those on the west side. The few existing tenants are all on short-term leases.