Real Estate
There also have been plans floating around that would move Madison Square Garden to the Farley Post Office; this would free up the entire Penn Plaza block and allow Vornado to build some sort of super office and retail project sitting between Seventh and Eight Avenues, on 31st to 33rd streets.
Vornado CEO Steve Roth told investors at a conference earlier this year that the redevelopment of the area would add $1.2 billion of value to Vornado's properties in the area, due to surging rents. Including the Manhattan Mall purchase, the company now owns about eight million square feet of properties in the district. Shares of Vornado recently were up 22 cents to $122.18.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
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|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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