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Vornado is looking to build an office building to neighbor the Empire State Building high in the air, but to move forward, it will likely need to secure a major tenant.
To that end, it has drawn interest in its planned development, to be called 15 Penn Plaza, from Morgan Stanley and perhaps even Deutsche Bank, though the wealth of incoming Class-A and Class-AA office product means competition will be stiff, the New York Post reports.
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The initial design submitted to the city a decade ago was a 1,216-foot tower by Pelli Clarke Pelli architects to replace the aging Hotel Pennsylvania on Seventh Avenue, but Vornado has reportedly shown potential tenants different designs, with the idea that any tenant major enough to kick-start such a huge development would be able to heavily customize its space.
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