11.04.2025 Vornado dusts off plans to develop tower on Hotel Pennsylvania site
Vornado Realty Trust is laying the groundwork to build a tower on the site of the former Hotel Pennsylvania in Midtown West, reviving an idea that’s percolated for years.
CEO Steven Roth said Tuesday that his firm has received requests from prospective tenants interested in a substantial block of space in a new tower that would rise up across the street from Penn Station and Madison Square Garden. Roth wouldn’t disclose to whom he’s talking or how much space is sought, and cautioned that nothing may come of the talks. But he did say the discussions are moving along.
“This is not just kicking the tires,” he said on a conference call to discuss quarterly results. “This is serious business.”