The investment bank, currently headquartered in the World Financial Center is rumored to have exchanged documents detailing a potential deal with Vornado Realty Trust to be the anchor tenant at a new office tower located just across the street from Madison Square Garden. A spokesperson for Vornado tells GlobeSt.com that although they have seen the published reports detailing the potential move, "Vornado's policy is not to comment at this time." They note that they can neither confirm nor deny reports.
Published reports noted that the new office tower in discussion for the potential move is McKim, Mead & White designed Hotel Pennsylvania. Vornado announced in January that it plans to demolish the hotel in 2011 and would replace the building with a 2.5-million-sf office tower.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.