Quote:
Originally Posted by NYguy
The Hotel Penn site appears to be the one most likely to land the first tenant, primarily because its been said to be the site that can begin construction fastest. However, with Vornado involved, I wonder how much of that depends on where the 4.5 msf of space from the MSG site could be moved. If approved, potentially one of those sites could get underway sooner. But I believe the Hotel Penn site is way ahead of the game as far as marketing goes. At the very least, Vornado has options...
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Well unlike MSG, we have seen a render or two of the Hotel Penn tower. Vornado has had this building in the works for a while now. I have seen various renders and read various articles explaining how they want to execute the deal. Out of all the developments this one seems the most on track.
MSG might look (as you said) to compete with the construction start of Penn, but the difference is, Penn knows the location to build as MSG no longer does. That in my book puts them ahead of the game.