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Old Posted May 1, 2018, 5:25 PM
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NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
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It would be a shame if this can't get done.



https://therealdeal.com/2018/05/01/v...self-up-again/

Vornado mulls splitting itself up, again
Steve Roth said spinoffs of retail, development businesses are possible






By Konrad Putzier
May 01, 2018



Quote:
In his annual letter to investors last month, Roth wrote that Vornado is considering tearing down 2 Penn Plaza and replacing it with a new tower. But during Tuesday’s call, he said that the development probably won’t happen after all because the company is having a hard time landing public subsidies to fund it.

“It does not appear that that plan is going to go forward and is feasible,” Roth said. Instead, the company will renovate the tower, give it a new facade and add 300,000 square feet near the base.

Sounds like the other plan would make the situation worse.
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