I don't see how 220 CPS has anything to do with this site, it seems that it's a purely Vornado problem. Unless Vornado blows Extell's socks off with an offer for the garage, I'm sure Extell is happy to continue to own the garage and thus prevent Vornado from erecting a tower that would block this buildings views, and be a direct competitor to this building and One57.
In regard to what Crawford posted, here's a
quick read on Sheldon Solow's 57th St lot, the anonymous source in the deal said that Solow did it in part to protect the southern views in 9 West 57th St, which he also owns.
Regardless of what Solow does or doesn't do, 57th St will still be an impressive vertical corridor.