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  #2281  
Old Posted Jul 28, 2025, 10:04 PM
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More momentum in the Penn District…


https://www.bloomberg.com/news/articles/...headquarters-to-manhattan-s-penn-2-tower

Verizon to Move NYC Headquarters to Manhattan’s Penn 2 Tower


By Natalie Wong
July 28, 2025


Quote:
Verizon Communications Inc. will open a new Manhattan headquarters at Vornado Realty Trust’s Penn 2, a redeveloped office tower near Penn Station.

Verizon, which currently has its headquarters at 1095 Avenue of the Americas, signed a long-term lease to take more than 195,000 square feet (18,100 square meters) of space spanning multiple floors at Penn 2, according to a statement Monday. About 1,000 employees will work out of the new space starting next year.

Verizon joins other companies that have recently relocated to new or upgraded office spaces across Manhattan. Penn 2 was built in 1968 and underwent a $750 million redevelopment that was completed last year. The revamped tower has a triple-height lobby that opens onto a pedestrian-only street and includes amenities such as a gym, pickleball courts and a rooftop lounge.
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  #2282  
Old Posted Jul 29, 2025, 12:32 PM
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Lol, wasn't 1095 6th Avenue completely renovated like 10 years ago? That space can't be that out of date.
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  #2283  
Old Posted Jul 29, 2025, 1:18 PM
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Originally Posted by colemonkee View Post
Lol, wasn't 1095 6th Avenue completely renovated like 10 years ago? That space can't be that out of date.
1095 is among MD&S' worst work. That dull, green glass is apropos of Gumby. It's utterly hideous.
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Last edited by ChiND; Jul 29, 2025 at 2:14 PM.
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  #2284  
Old Posted Jul 29, 2025, 1:22 PM
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Originally Posted by colemonkee View Post
Lol, wasn't 1095 6th Avenue completely renovated like 10 years ago? That space can't be that out of date.
Pre-covid is ancient in terms of Manhattan office space.



https://www.verizon.com/about/news/verizon-announces-new-manhattan-headquarters

Rooted in New York City. Building the Future. Verizon announces new Manhattan headquarters at Vornado’s PENN 2


07/28/2025


Quote:
“New York City isn’t just where we work – it’s who we are,” said Sam Hammock, EVP and Chief Human Resources Officer, Verizon. “Our employees deserve a workplace that is just as vibrant as our culture. PENN 2 is more than an office. It’s a space designed to bring us together – to collaborate, to celebrate, to think boldly and to build the future side-by-side. New York has played a central role in Verizon’s story, and there’s no better place to create our next chapter. As the network New Yorkers trust, we’re proud to invest in the city that’s always inspired us.”

For 25 years, Verizon has been the backbone of New York City, keeping New Yorkers connected, moving and safe by delivering mission-critical connectivity to New York City public safety agencies and tens of thousands of small businesses across all five boroughs. With more than 400 retail locations citywide, a new flagship retail store opening on Seventh Avenue, and growing Fios availability, Verizon remains at the heart of daily life in the city. The move to PENN 2 will bring approximately 1,000 corporate employees together under one roof, providing the ideal environment for innovation and collaboration.

.....During the term of the lease, Verizon will occupy more than 195,000 square feet of premier office space across multiple floors, with exclusive access to more than 25,000 square feet of outdoor space within The Bustle. Located directly above Penn Station at the crossroads of Midtown, PENN 2 offers unmatched convenience for employees, with direct access to 15 subway lines, the Long Island Railroad, New Jersey Transit, PATH, Amtrak, and soon Metro-North–making it easier than ever for teams to connect and collaborate from across the region. This location will support employees’ best work and places Verizon at the heart of the city’s economic energy and innovation.

“We are thrilled to welcome Verizon to the growing roster of world-renowned business, communications, technology, finance, and entertainment firms that have chosen THE PENN DISTRICT for their corporate homes,” said Glen Weiss, Executive Vice President - Office Leasing and Co-Head of Real Estate for Vornado Realty Trust. “Our reinvention of THE PENN DISTRICT has produced a vibrant gateway to New York’s new West Side and represents a new era of workplace thinking, where dynamic environments, unparalleled connectivity, and employee-focused design come together to inspire collaboration and innovation.”
Let's hope all of the momentum they have been getting at 1 and 2 Penn will lead Vornado to leaning more towards getting 15 Penn built. I know they have repeatedly said it's too expensive to build anything now, but they will run out of options.
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Last edited by NYguy; Jul 30, 2025 at 12:30 AM.
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  #2285  
Old Posted Jul 31, 2025, 3:15 PM
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  #2286  
Old Posted Jul 31, 2025, 3:18 PM
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I really hope that Vornado does not pull another Alexander's/Rizzoli's here.
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  #2287  
Old Posted Aug 6, 2025, 1:05 AM
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Vornado keeps insisting they're going to wait it out at 15 Penn, but that could change in a heartbeat, as it did with 350 Park.



https://commercialobserver.com/2025/08/vornado-q2-earnings-nyu-lease/

By Amanda Schiavo August 5, 2025



Quote:
“Manhattan is universally claimed to be the strongest real estate market in the country, and I mean it’s the strongest by far,” Roth noted. “While Manhattan may have nearly 420 million square feet of office space, we actually compete in a much smaller, 180 million-square-foot class, a better building market. Our clients are expanding. Demand is strong, and here’s the punchline: Available space continues to evaporate quickly.”
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  #2288  
Old Posted Aug 9, 2025, 1:01 AM
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  #2289  
Old Posted Aug 9, 2025, 1:43 AM
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I think that this is a gorgeous tower. I hope that it does not get a tenant before 175 Park.
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Last edited by NYguy; Aug 9, 2025 at 1:31 PM.
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  #2290  
Old Posted Aug 11, 2025, 2:33 PM
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I've softened on the design and massing a little as they have moved the core from offset on the north side. Still, it looks as elegant as a filing cabinet.
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  #2291  
Old Posted Aug 11, 2025, 6:51 PM
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It’s not a bad looking building, if they go with the taller version. Still too bulky if they go with the shorter tower. But who knows what Vornado will eventually move forward with. It all comes down to tenants.
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  #2292  
Old Posted Aug 12, 2025, 5:13 PM
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Quote:
Originally Posted by NYguy View Post



I'm assuming this is the taller version on display here? It looks good proportionally. It could seemingly work quite well, and would look very impressive from downtown and especially from 1WTC.

Fingers crossed for something appropriately sized, once the time is right.
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  #2293  
Old Posted Aug 12, 2025, 7:43 PM
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Originally Posted by SamLYNY View Post
I'm assuming this is the taller version on display here? It looks good proportionally. It could seemingly work quite well, and would look very impressive from downtown and especially from 1WTC.

Fingers crossed for something appropriately sized, once the time is right.


Yeah, that’s the taller version. You can see the difference between the two here…







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  #2294  
Old Posted Aug 23, 2025, 5:43 PM
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I hope to see Vornado build a much taller and more iconic tower than this on the A&S/Gimbel’s site and a new MSG between 33rd and 34th.

This could be "yuge"!!!

South Korean Firms Want to Invest Billions in Rebuild of Penn Station
A coalition of South Korean companies approached the Grand Penn Community Alliance saying they want to participate in the Trump administration’s multi-billion dollar plan to rebuild Penn Station.
Michael OreskesPenn Station /| 22 Aug 2025 | 05:28
https://www.westsidespirit.com/news/sout...ons-in-rebuild-of-penn-station-GD4984686



Quote:

As part of South Koreas new trade deal with the Trump administration, Korean industrialists are offering to invest in the rebuilding of Penn Station and its neighborhood.

“We understand that the US DOT [Department of Transportation] and President Trump desire to see this project move forward as expeditiously as possible as a priority national-level goal,” said a letter from Jin Roy Ryu, a Korean munitions manufacturer and chair of the Federation of Korean Industries.

The letter arrived just ahead of the summit meeting at the White House Monday, August 25th, between President Trump and the President of South Korea Lee Jae-myung. A key agenda item for the summit, according to President Trump, is ironing out the details of a Korean commitment to contribute $350 billion in US-based investments as part of their July tariff deal.

Should President Trump support the participation of the Republic of Korea in the Grand Penn Project, we would welcome the opportunity to discuss possible ways to support the engagement,” Ryu wrote to Klingenstein.

This, Ryu explained, could be “both as a potential financial partner in the infrastructure redevelopment and as a possible catalyst for commercial real estate development.”

The Grand Penn Community Alliance estimates the cost of its plan at $7.5 billion, but the Koreans were said to be willing to invest up to $15 billion. The additional investment would be in office development in the adjacent neighborhood, which includes what is popularly known as Koreatown, or K-Town.
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Last edited by ChiND; Aug 23, 2025 at 6:02 PM.
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  #2295  
Old Posted Aug 23, 2025, 6:03 PM
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  #2296  
Old Posted Aug 24, 2025, 3:02 AM
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Originally Posted by ChiND View Post
I hope to see Vornado build a much taller and more iconic tower than this on the A&S/Gimbel’s site and a new MSG between 33rd and 34th.
I should have a stamp for this at this point, but it's "not going to happen". For a variety of reasons, but that doesn't matter.
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  #2297  
Old Posted Aug 24, 2025, 3:28 AM
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It seems like we’ll have a firm idea soon. I look forward to hearing about the press conference with the South Koreans on Monday and the press conference on Wednesday.
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  #2298  
Old Posted Aug 24, 2025, 1:14 PM
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It seems like we’ll have a firm idea soon. I look forward to hearing about the press conference with the South Koreans on Monday and the press conference on Wednesday.
Suit yourself.
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  #2299  
Old Posted Aug 24, 2025, 1:58 PM
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Looking forward to the press conferences.
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  #2300  
Old Posted Aug 24, 2025, 7:14 PM
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Will reopen this thread when there’s anything relevant.
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