NEW YORK | Penn Station / MSG Renovation

[Crawford]

Vornado is planning a 2.5 million square foot tower there. It would probably cost minimum 2 billion just to get the site. It makes zero sense. The city, over time, would lose out on billions in tax revenue from the erased office tower.

Also, the reason MSG should move is bc it sucks in the context of Penn Station/Seventh Ave. Moving it across the street, but still on top of Penn and still fronting Seventh, does nothing on either count. In some ways it's worse, bc now you'd have a brand new arena guaranteed to be there for 50+ years minimum.