Quote:
Originally Posted by pianowizard
On the bright side, it might be cheaper to build a supertall in or near a "disgusting" neighborhood than in an upscale one.
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Not remotely. The Hotel Penn site will definitely be developed, but it's a matter of when. It's a huge site that can (and will) accommodate an enormous building. Thus, while the area is currently a cesspool, that site is incredibly valuable. Apart from the cost of the site (which Vornado already owns), all other construction costs are the same here, as they would be on the Helmsley Palace site on CPS.