NYC's commercial real estate crisis is so bad that a developer is considering turning a prime plot of land into a 150-foot billboard [Business Insider]
Vornado Realty Trust (VNO)
Last vornado realty trust earnings: 2/18 04:38 pm
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Source: Business Insider
The site, once home to Hotel Pennsylvania, has also been proposed for housing by state lawmakers. New York City-based developer Vornado Realty Trust is considering using a plot of land near Madison Square Garden and the Empire State Building to house a 150-foot tall billboard, among other options. The project is called "The Penn Platform" and was previously reserved for a 56-floor office tower. But the commercial real-estate sector is in serious trouble, and now, Vornado is rethinking that plan. Vornado says the site could be used for a variety of functions. In addition to the massive billboard, that list includes sporting facilities such tennis courts and NCAA-sized basketball courts, or facilities for events such as New York Fashion Week, according to an online marketing brochure published by the developer. The news was first reported by Crains New York Business "We are currently considering a number of potential interim options for the Hotel Pennsylvania site," a Vornado s
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News
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- Vornado Announces First Quarter Earnings Release Date and Conference Call InformationGlobeNewswire
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- The new 62-story tower set to transform New York City's skyline [CNN]CNN
VNO
Earnings
- 2/12/24 - Beat
VNO
Sec Filings
- 4/9/24 - Form ARS
- 4/9/24 - Form DEFA14A
- 4/9/24 - Form DEF
- VNO's page on the SEC website