Proposal includes options for single- and multi-tenant building on site currently occupied by the Hotel Pennsylvania. On February 8, 2010, the City Planning Commission certified Vornado Realty Trust’s application to build a 2.05 million sq.ft. office tower at 15 Penn Plaza in Manhattan. The site is across the street from Madison Square Garden and Penn Station, and is currently occupied by the Vornado- controlled 1,700-room Hotel Pennsylvania. Vornado would demolish the hotel to build the tower, and it intends to construct an as-of-right building if it does not obtain approval for the proposed project. In order to increase development flexibility and ensure that it can begin construction as soon as possible, Vornado’s application included two different building plans. It originally proposed two building scenarios that would have provided 2.84 and 2.65 million sq.ft. of floor area respectively. 6 CityLand 7 (Feb. 15, 2009). The reduced certified proposal, however, showed two buildings that would each total 2.05 million sq.ft. of floor area. According to Vornado, the designs cannot be blended, and it intends to build one or the other of the proposed options.

A single-tenant, 67-story building option would feature a ten-story, 218-foot tall base with a tapered tower rising to 1,190 feet and no setback along the Seventh Avenue frontage. The tower proposal would provide 2.04 million sq.ft. of office space and 12,000 sq.ft. of retail space on the ground floor. (more…)