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  #1301  
Old Posted Aug 12, 2023, 3:49 AM
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Meanwhile, Gateway is coming along, as the approach and columns of the new Portal Bridge are taking shape....



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  #1302  
Old Posted Aug 16, 2023, 1:15 PM
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https://finance.yahoo.com/news/vornado-explores-possible-sale-manhattan-211222267.html

Vornado Explores Possible Sale of Manhattan’s Farley Building


Natalie Wong
August 15, 2023


Quote:
Vornado Realty Trust is exploring options for its redeveloped Farley Building, as it seeks to shore up liquidity during a commercial-property downturn.

Vornado is exploring options including a partial or entire sale of the building, according to people familiar with the matter who asked not to be identified citing private information. The company could also put a mortgage on the asset, which currently has no debt on it, the people said.

The REIT, led by billionaire Steven Roth, has tapped Newmark Group Inc.’s co-heads of US capital markets, Adam Spies and Douglas Harmon, to handle the process, the people familiar with the matter said. Discussions are still preliminary and it’s unclear exactly what path Vornado will pursue.

The former Post Office building, located across from New York’s Pennsylvania Station, is leased to tech giant Meta Platforms Inc. The company signed the deal for 730,000 square feet (67,800 square meters) in the depths of the pandemic in 2020, with a 15-year term. Green Street’s Real Estate Alert first reported that Vornado was exploring its options for the building.
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  #1303  
Old Posted Aug 17, 2023, 8:21 PM
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Well... if Vornado wants to sell the Farley Building, then we could move the MSG there, or double Pennsylvania Station.
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  #1304  
Old Posted Aug 18, 2023, 12:01 AM
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  #1305  
Old Posted Aug 18, 2023, 1:17 AM
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From the meeting, same information from the report, discussion centered on how the process plays out.

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  #1306  
Old Posted Aug 20, 2023, 1:07 PM
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  #1307  
Old Posted Aug 22, 2023, 11:49 AM
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A rendering I made showing how the full ESC may look, including the placeholder Site 1-3 massings:

Photo source: https://en.wikipedia.org/wiki/File:Above_Gotham.jpg

Last edited by Xing Lin; Aug 23, 2023 at 8:08 AM.
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  #1308  
Old Posted Aug 29, 2023, 1:26 AM
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Thumbs up Madison Square Garden Can Stay Put for Another Five Years, New York City Council Says

https://www.costar.com/article/429483252...er-five-years-new-york-city-council-says

MSG can move east via Vornado or stay in the way of a new Penn Station for only five more years.

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  #1309  
Old Posted Aug 29, 2023, 3:55 AM
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Quote:
Originally Posted by Xing Lin View Post
A rendering I made showing how the full ESC may look, including the placeholder Site 1-3 massings:

Photo source: https://en.wikipedia.org/wiki/File:Above_Gotham.jpg
Nice work as usual.



Quote:
Originally Posted by HyperPower View Post
https://www.costar.com/article/429483252...er-five-years-new-york-city-council-says

MSG can move east via Vornado or stay in the way of a new Penn Station for only five more years.

Doesn't mean what you think it does. But let me tell you a secret - MSG isn't moving. It will just come up for renewal as it did this time.




https://www.chelseanewsny.com/news/11th-...w-msg-s-special-permit-forever-FN2690979

11th Hr. Appeal: Local Bars, Other Small Business Owners, Urge City Council to Renew MSG’s Special Permit Forever
Nearly two dozen small businesses, including a dozen pubs, one real estate tower, two parking garages and the Manhattan Chamber of Commerce, sent a last minute appeal to the City Council asking its committee to recommend renewing in perpetuity the special permit that Madison Square Garden needs to operate the arena above Penn Station. But the Council’s landuse and franschise sub committee voted on Monday, Aug. 28 to only grant a five extension. It still must go to the full City Council for a vote next month before the permit lenght is finalized.



MICHAEL ORESKES
28 AUG 2023


Quote:
A raft of restaurants, bars and other businesses around Madison Square Garden–saying the Garden’s crowds provided much of their business–appealed to the City Council to give the arena a new permit to operate permanently.

The eleventh hour appeal came as the Council worked toward an August 28th deadline to decide on whether, or for how long, to grant The Garden a new permit to operate and on what conditions, including what MSG will be required to do to facilitate the reconstruction of Penn Station beneath it.

“Madison Square Garden is the economic lifeblood of our community, not only employing thousands but attracting many thousands more to local businesses all year round,” the businesses wrote in a letter to the speaker of the Council, Adrienne Adams and three pivotal members, Erik Bottcher, who represents the neighborhood, Rafael Salamanca Jr., who chairs the land use committee and Kevin Riley, chair of the subcommittee on zoning and franchises.

“With its ability to operate at full capacity for the long term now at stake, we urge you to approve its request to renew its special operating permit in perpetuity”

The letter was signed by twenty local eating and drinking establishments, two parking garages and the Manhattan Chamber of Commerce.

“Our establishments are located within walking distance of The Garden, and we rely on the arena for a great deal of our evening and weekend business.”

Richard Constable, The Executive Vice President of MSG Enertainment, which owns the Garden said: “Our local businesses understand how important Madison Square Garden is to their neighborhood and we appreciate their ongoing support.”



https://www.thecity.nyc/2023/8/28/23849734/madison-square-garden-permit-penn-station

Five-Year Madison Square Garden Permit Inflates Pressure to Play Ball
A City Council committee shrinks the timeline for the Midtown arena’s operation as Penn Station plans hang in the balance.



BY GABRIEL POBLETE
AUG 28, 2023


Quote:
The local Council member stressed his desire for the owners of the famed arena to play ball with transit agencies in rehabilitating Penn Station, which is located underneath MSG.

During a Zoning and Franchises subcommittee meeting, Councilmember Erik Bottcher (D-Manhattan), whose district includes the complex, said that an antiquated loading setup for concerts and other events clashed with the intensifying transit activity underneath the Garden.

“Because of this use conflict, at this time the Council cannot determine the long-term viability of an arena at this location,” Bottcher said. “Therefore five years is an appropriate term for this special permit.”

Bottcher said the Council would require the development of a transportation management plan. The permit now goes to the full Council, where it is expected to be approved. Mayor Eric Adams has the power to review the permit and veto it if he chooses.
Quote:
MSG Entertainment issued a statement shortly after the vote, calling the Land Use Committee’s decision disappointing.

“A short-term special permit is not in anyone’s best interest and undermines the ability to immediately revamp Penn Station and the surrounding area,” the statement reads. “The committees have done a grave disservice to New Yorkers today, in a shortsighted move that will further contribute to the erosion of the City – that’s true now and will be true five years from now.”

For years now, neighborhood advocates and elected officials have called for MSG to leave its home atop Penn Station, arguing the arena stood in the way of train station improvements. When the City Council last renewed the arena’s special permit a decade ago, Council members said Dolan should look to move the world-famous arena elsewhere.

But MSG executives have made clear they are not budging. Since it owns the property, getting MSG to move elsewhere or denying them the permit could be extraordinarily costly, with a state-estimated price tag of $8.6 billion.
Quote:
In a June letter to the City Planning Commission, MSG Entertainment executive vice president Richard Constable said that while the group is willing to work with the railroads, that doesn’t necessarily mean they’ll give up their property.

“As we have discussed with Department of City Planning staff, MSG’s commitment to partner with the Rail Agencies does not, in any way, mean that MSG must offer easements on our private property, or offer to transfer ownership of our private property, at less than fair market value,” Constable said in the letter.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.

Last edited by NYguy; Aug 29, 2023 at 4:27 AM.
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  #1310  
Old Posted Sep 5, 2023, 8:26 AM
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Post MSG has so far spent $500K lobbying

MSG has so far spent $500K lobbying NYC as it pursues permit, records show.

https://www.nydailynews.com/news/politic...30-2mvdfhkqsvczzl4hdolxnpyehm-story.html
Quote:
Madison Square Garden has spent about $500,000 lobbying in New York City over the past two years as it pursues a new operating permit for its location atop Penn Station, according to city records, even as results have come up short of the arena’s expectations
Quote:
NYbot/guy - Doesn't mean what you think it does. But let me tell you a secret - MSG isn't moving. It will just come up for renewal as it did this time.
Didn't you say that MSG would get a 10 yr + or perpetuity extension a few pages back and the community board meant nothing requesting only 3-5 years like I told you the city would grant?!

Maybe after another 50k posts you'll understand people that have more power and influence that actually work in the developer world are making moves and as a spectator you really are just guessing from the peanut gallery.. and thats no secret.
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  #1311  
Old Posted Sep 5, 2023, 1:23 PM
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Originally Posted by HyperPower View Post
MSG has so far spent $500K lobbying NYC as it pursues permit, records show.

https://www.nydailynews.com/news/politic...30-2mvdfhkqsvczzl4hdolxnpyehm-story.html




Didn't you say that MSG would get a 10 yr + or perpetuity extension a few pages back and the community board meant nothing requesting only 3-5 years like I told you the city would grant?!

I said MSG isn’t going anywhere, and it’s not. People are confusing the permit terms with the actual arena. It could be 20 years, it could be 10 years, it could be a single year. All it means is that they will repeat the process when that term ends.

Now, in 5 years, what makes you think they will be more inclined to move? And where exactly do you think they will move to? Tge Javits Center? That’s not moving anytime soon, if at all.

So let us return to the facts. James Dolan owns the site, and has the same rights any other developer has. And he’scstubborn enough to make good on his threats. If you’ve been paying attention, you know he doesn’t care about “people’s influence”. Eminent domain you say? Good luck proving that the most successful venue is a “blight” in court.

But I guess I’ll be here in 5 years repeating myself, as logic never sinks in.
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  #1312  
Old Posted Sep 5, 2023, 1:45 PM
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I think MSG will move, within the next 10 years, max. They're running out of time. They have the oldest arena. It's updated and modern, but will need replacing. If they're lucky NYC will give them another five-year permit in 2028, but that's really taking a chance. I don't think they'll even get that if by 2028 there are no relocation plans.

If Dolan weren't an idiot he'd be feverishly making plans right now. It's a difficult problem, but not impossible. There are options.
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  #1313  
Old Posted Sep 5, 2023, 2:06 PM
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Originally Posted by Crawford View Post
I think MSG will move, within the next 10 years, max. They're running out of time. They have the oldest arena. It's updated and modern, but will need replacing. If they're lucky NYC will give them another five-year permit in 2028, but that's really taking a chance. I don't think they'll even get that if by 2028 there are no relocation plans.

If Dolan weren't an idiot he'd be feverishly making plans right now. It's a difficult problem, but not impossible. There are options.

Again, where and why? I genuinely can’t understand the thinking here. And a follow up, how many towers will replace it?



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  #1314  
Old Posted Sep 5, 2023, 2:12 PM
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To say 50/50 chance is wishy-washy but I think that's exactly where we're at.
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  #1315  
Old Posted Sep 5, 2023, 3:43 PM
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Originally Posted by NYguy View Post
Again, where and why? I genuinely can’t understand the thinking here. And a follow up, how many towers will replace it?



I'm guessing that MSG won't move until the Knicks win another NBA championship, long overdue... sort of like the Golden State Warriors...
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  #1316  
Old Posted Sep 5, 2023, 4:25 PM
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...would not "make economic sense on any other site"
Yeah except for literally right across the street which is begging for a massive wholesale redevelopment. Seventh/Sixth/32/34 is the choicest redevelopment opportunity the city will see in decades and would be a damn shame to be squandered with piecemeal hodge-podge. A new MSG could fit easily with room for retail, hotels, office even residential anchoring the corners. A complex like that would still have all the transportation benefits the current MSG has - arguably more considering it would be that much closer to the Herald Sq BMT-IND-PATH confluence. Hell, call me crazy but the entire basement seems like an opportunity to squeeze more platforms into Penn. Not positive whether or not they could vertically clear the subway tunnels to be through running but it sure seems like tias should be looked into.
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  #1317  
Old Posted Sep 21, 2023, 1:24 AM
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^ Not happening. For a variety of reasons we’ve already gone over.
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  #1318  
Old Posted Sep 21, 2023, 1:27 AM
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https://www.crainsnewyork.com/transporta...-states-penn-station-reconstruction-plan

Judge rules in favor of state’s Penn Station reconstruction plan

AARON ELSTEIN
September 20, 2023


Quote:
The Hochul administration’s plan to help pay for reconstructing Penn Station by having 10 supertall towers built around it survived a test in court after a judge dismissed a lawsuit brought by community groups.

Penn Community Defense Fund, the City Club of New York and two other plaintiffs had alleged Empire State Development acted arbitrarily and capriciously. They contended the state agency failed to assess how much revenue would be contributed to Penn Station from the new towers and that officials rolled over to the wishes of Vornado Realty Trust, the firm that seeks to redevelop the area near the dismal commuter hub.

But in order to derail the plan, the plaintiffs had to demonstrate ESD acted without a legal basis for its decisions and they failed to do so, state Judge Lucy Billings said in a ruling released Tuesday. She added the law “unambiguously allows” state officials to defer questions about the project’s financial details to some undetermined date.
Quote:
Richard Emery, an attorney for the plaintiffs, said he disagreed with the judge’s decision and is weighing an appeal.

“Very unfortunately, the laws in the books don’t provide a safeguard that good public policy deserves,” said Layla Law-Gisiko, chair of the land use committee for Community Board 5, who opposes the state’s plan.
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  #1319  
Old Posted Sep 28, 2023, 12:46 AM
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https://hyperallergic.com/846326/moss-co...n-station-neighborhood-over-development/

Moss-Covered Activists Protest Penn Station Neighborhood Over-Development
A proposed plan to expand the train station and “revitalize” the Midtown area would evict hundreds of residents, activists say.






Maya Pontone
September 22, 2023


Quote:
A new public art project is drawing attention to the over-development and demolishment of historical sites in the Pennsylvania Station neighborhood. In the early morning hours of Friday, September 22, the “Keepers” — silent, slow-moving, moss-covered beings that maintain the sacred balance of nature — appeared on West 32nd Street outside culturally significant sites like the Gimbel’s Skybridge, the Church of St. John the Baptist, and the ruins of the Hotel Pennsylvania to spotlight these areas and the dozens of other historic buildings that would be destroyed under the state’s Pennsylvania Station Area Civic and Land Use Improvement Project.

Under Empire State Development, a consolidation of the New York State Urban Development Corporation and the New York Job Development Authority, the proposed plan to expand Pennsylvania Station and “revitalize” the Midtown area would effectively displace over 2,000 residents and eviscerate more than 1,300 small businesses housed in the neighborhood, according to data compiled by community organizers.

Beginning at 6:30am in the back of the historic church, the performers moved around the neighborhood outside the massive train station throughout the morning, garnering the confused looks and curiosity of hurried passersby. Beside the performers, community organizers carried signs protesting the state plan.



















https://tenor.com/view/sigmund-and-the-sea-monsters-sigmund-sea-monster-kelp-beach-gif-16183370
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  #1320  
Old Posted Sep 29, 2023, 7:53 PM
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Meanwhile, Dolan wants a "sphere" in New York.


https://www.joplinglobe.com/region/natio...4f3a4ad-75e6-5332-ba5e-b35442680158.html

James Dolan's sketch of the Sphere becomes reality as the venue opens with a U2 show in Las Vegas
It started as a crude sketch of a circle with a stick person inside




By JONATHAN LANDRUM Jr. and KEN RITTER
Sep 29, 2023


Quote:
It started as a crude sketch — a circle with a stick person inside. Seven years later, that drawing has been made real: A $2.3 billion massive spherical venue, standing 366 feet (111 meters) high and lighting up the Las Vegas skyline.

The drawing was initially made by James Dolan, the executive chair of Madison Square Garden and owner of the New York Knicks and Rangers.

“This was the perfect market,” Dolan said. “This marketplace is about growth. They welcome the notion of putting a big, huge spherical light bulb thing in the middle of it. This market loves light, it loves shows, the entertainment. The Sphere is all about those things. The government here was welcoming and encouraging.”

Dolan believes many others will embrace the Sphere, and hopes to expand the concept all over the world. He believes London could be the next landing spot, with the dreams of someday building one in New York.
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