An old copy of Architectural Digest that featured the Hotel back in the day. Notice the detail they went into about the hotel.
A receipt from the Hotel Statler from February 1950, courtesy of Mr. & Mrs. Thomas J Hickey from Richmond Hill, NY. They stayed there on their wedding night. I’m happy to report both are still around today, and are in their 90’s.
Not much news in the way of the Hotel Penn’s fate. As you know, from the “Moving Madison Square Garden” meeting we posted, Vornado has a lot in store for that area. Seems right now they are focusing more on the “Moynahan Station” project, which is scheduled to be completed in 2020 then anything else. Below is the link to the transcripts.
DATE AND TIME
Thu, January 19, 2017
7:00 PM – 9:00 PM EST
SAG-AFTRA Foundation – Robin Williams Center
247 West 54th Street
New York, NY 10019
An extraordinary evening with three distinguished architectural and planning experts:
- Vishaan Chakrabarti – Founder of the Practice for Architecture and Urbanism
- Michael Kimmelman – Architecture critic of The New York Times
- Tom Wright – President of the Regional Plan Association
They will lay out their vision for the future of the West Midtown Transit Corridor, the largest transportation hub in the United States, which includes Penn Station, Moynihan Station, Amtrak’s Gateway project and the Port Authority Bus Terminal.
Join us for a lively discussion about the future of regional transit, why Madison Square Garden needs to be moved, how it can happen, and what a new, world-class Penn Station would mean for New York.
[Image Credit: Practice for Architecture and Urbanism]
In todays 3rd Quarter earnings conference call Steve Roth still referred to the grand ‘ol lady as a “parking lot”
“A word about the hotel business in New York. While both domestic and international tourism remains strong, the hotel industry is in a down cycle, the victim of gross oversupply. The results of our Hotel Pennsylvania have been weak. We continue to look at this hotel as a parking lot for future development as part of our overall Penn Plaza strategy.”
Still no decision on if they want it to be a residential or an office tower.
The transcript can be found here
Vornado Realty Trust CEO Steven Roth has offered up yet another possibility for the future of Hotel Pennsylvania — apartments and retail.
Uncertainty has swirled around Vornado Realty Trust’s plans for the building for years. It was originally slated to become 68-story office tower called 15 Penn Plaza, but that plan was jettisoned when Merrill Lynch decided not to lease space there. In 2013 Vornado announced a $300 million renovation, but in 2014 it said the proposal for 15 Penn Plaza could be back on.
On a conference call last week, Roth said an office building at the site simply isn’t a viable option with current market conditions.
“The problem is we cannot deliver the site economically in competition with what Hudson Yards is doing and the World Trade Center is doing. And we’re not off by a little, we’re off by a lot for lots of different reasons,” he said, according to Real Estate Weekly. “I can’t tell you how much we hate having to build a building where we have to get $150 rents or something like that,” he added.
He stopped short of making a definitive plans, however. “The options for Hotel Penn are, leave it where it is, knock it down,” he said, “If we knock it down, it’s going to be apartments and retail. If we leave it the way it is, it’s going to be a hotel.”