Because everything always comes back to New York, here’s another story about life in the big City.
Vornado Realty Trust is the company that is in the midst of buying the Filene’s building (and others) in Downtown Crossing.
It’s a very large real estate company. And, very successful.
To get an idea of how large, and how successful it is, look to what they’ve proposed in midtown Manhattan.
Steven Roth, the chairman of a company once known for operating suburban shopping centers, made a startling move nine years ago when he plunked down more than $2 billion for office towers, a hotel and retail space surrounding Madison Square Garden on a bet that the neighborhood was ripe for transformation.
Now, Mr. Roth is quietly circulating a $7 billion plan detailing just how radical a transformation he envisions for the district, including moving the Garden to a new home on Ninth Avenue. He wants state officials to rethink the plan they have hired him to develop, an expansion of Pennsylvania Station under Eighth Avenue into the landmark James A. Farley Post Office, which is to be renamed Moynihan Station for the senator who championed the project.
Again, this involves rebuilding Penn Station, renovating the post office, and completely relocating Madison Square Garden, and building four or five high-rise towers, as well.
A new Fenway Park on top of Filene’s Basement?
More: Plan to Move Garden Augurs Change for Midtown – By Charles V Bagli, The New York Times