In a shocking move this week Vornado has announced to give up its plans to tear down the historic Hotel Penn, and instead bring in new management to renovate the old girl!! A quote from CEO Steven Roth, "We're not going to tear down the hotel," Mr. Roth said. "In fact, we're going to invest in it aggressively and try to make it into a really profitable, really good hotel for our purposes."
All of us at the Foundation are thrilled with this news!!