Though Vornado Realty Trust still says it's not tearing down Seventh Avenue's loved/hated/tolerated Hotel Pennsylvania anytime soon, the developer sure is making strides when it comes to firming up details for the building's proposed replacement?a portly commercial skyscraper designed by Pelli Clarke Pelli that really needs a nickname (any suggestions?).
Steve Cuozzo reports today that 15 Penn Plaza, the official name of the office building, is going before Community Board 5 on Thursday, and Vornado is promising to pay for all sorts of improvements to the Herald Square-Penn Station mass-transit maze, including new subway entrances and the reopening of an underground pedestrian tunnel between Penn Station and Herald Square. What's with the generosity? Well, Vornado needs zoning variances and floor-area bonuses to build 15 Penn Plaza the way the company wants it, which is nearly double the square footage of what's allowed as-of-right. Fair trade?
· Vornado's Penn tower deal [NYP]
· Hotel Pennsylvania coverage [Curbed]