[JSsocal]

Read it when the article came out, but if the state puts new air rights on the table/promises to rework Penn station that changes the equation. The asking rent in 1 Penn is paltry compared to HY right now and vornado is famously slow to act.

It would be different if this building was across the street, but functionally, Penn Station needs more platforms to accompany anything cosmetic they do to the building. And like I said Gateway plans to add it to the south, but getting that land is going to be messy, expensive, and take a generation. To me it'd be easier to make an arrangement with vornado to rework the property they own and give them generous air rights for something new on top.