More takeaways. Having only three to five new buildings potentially account for the 5MM sf of development rights that sit on top of MSG, would make those very large buildings.
"...Roth does seem, however, to envision a large-scale reboot of Penn Plaza, which he refers to in the letter as the “Promised Land.”
He says the REIT’s “grand plan” is to construct three to five new buildings on the sites it owns in the district...
...According to Roth, tearing down 2 Penn Station would allow light to reach the eastern half of Penn Station and enable improvements to the station — also a stated goal of the governor. Roth envisions the improvement would be “self-financed” through payments in lieu of taxes..."