Vornado tower coming to Madison Park.Vornado Realty Trust Vornado Realty Trust (NYSE: VNO) is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's. is planning to expand its portfolio in the Madison Square Madison Square is a neighborhood on the East Side of the New York City borough of Manhattan, centered on a 6.8 acre (2.75 Hectare) public park in the New York City borough of Manhattan, named for James Madison, fourth President of the United States and co-author of the United Park area with a 20-story office tower at 34th Street and Seventh Avenue, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a published report. The 220,000-square-foot tower will reportedly be built where buildings at 433 through 439 Seventh Avenue and 160 West 34th Street are currently located. Vornado owns those buildings and is reportedly planning to demolish those buildings to make room for the new tower, which is being designed by architects Brennan Beer Gorman. Vornado officials did not return a phone call seeking comment on the report, which first appeared in the New York Post The New York Post is the 13th-oldest newspaper published in the United States and the oldest to have been published continually as a daily.[3] Since 1976, it has been owned by Australian-born billionaire Rupert Murdoch's News Corporation and is one of the 10 . Dan Pisark, vice president of retail services for the 34th Street Partnership, said Vornado has not discussed their plans with the group but a sidewalk bridge was recently erected in the site where the tower would be located. "That's a typical sign that the buildings are about to be demolished," Pisark said. As part of the deal Swedish retailer Hennes & Mauritz, more commonly known as H & M, is reportedly planning to lease 33,000 square feet on the first three floors of the tower. The Stockholm-based clothing chain opened its first store in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. at 640 Fifth Ave. at 51st Street and recently opened another at 2 Herald Square Herald Square is formed by the intersection of Broadway, Sixth Avenue (officially named Avenue of the Americas) and 34th Street in the borough of Manhattan in New York City. It was named for the New York Herald, a newspaper originally headquartered there. between 34th and 35th Streets. The store is regarded as a category killer Category Killer Large companies that put less efficient and highly specialized merchants out of business. Category killers can attain this status by being cheaper, easier, bigger, or more popular than the competition. for "cheap and chic retail" and has built a reputation in Europe for offering trendy, runway and street-inspired clothing at affordable prices. Founded in 1947, it has more than 600 stores in Europe and is planning an aggressive expansion into the United States, with plans to open 500 more stores over the next two years. If Vornado moves forward with the project, the new development would be across the street from Macy's department store and a few feet from the entrance to the Long Island Rail Road. Pisark called the location "ground zero in the 34th Street district." "It's one of the busiest corners in the city. The critical mass of pedestrians passing through there is pretty amazing," he said. And although he has not seen details of planned tower, Pisark said he believes it would be good for the district. "We have every reason to believe it's going to be a great development," he said. |
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