Proposal would replace Hotel Pennsylvania with 2.1 million sq.ft. tower and reopen Gimbels underground passageway. On July 14, 2010, the City Planning Commission approved Vornado Realty Trust’s proposal to build a large commercial tower, known as 15 Penn Plaza, on Seventh Avenue between West 32nd and 33rd Streets in Manhattan. The site is occupied by the Hotel Pennsylvania, which Vornado would demolish in order to build its tower. Vornado proposed either a 67-story, single-tenant building option or a 68-story, multi-tenant development.

The single-tenant option would feature a 218-foot tall podium with a tapered tower reaching 1,190 feet. This building would be designed to accommodate the needs of a financial institution, including an open central space for unobstructed trading floors. It would also include 10,000 sq.ft. of ground floor retail space and a 100-space underground garage. The multi-tenant option would feature a 134-foot base, and a tapered, setback tower that would reach 1,216 feet. This option would provide 34,000 sq.ft. of ground floor retail space and additional retail space in the upper floors of its six-story base. (read more…)