Reply With QuoteFact is this is a nice article but Vornado takes years to make moves, as well as the point that cablevision still needs that tax break which has not been extended, so dont bet on this anytime soon
Mort Zuckerman, taking baseless potshots at the competition again. Exactly how many train stations has he built?
Fact is this is a nice article but Vornado takes years to make moves, as well as the point that cablevision still needs that tax break which has not been extended, so dont bet on this anytime soon
Originally Posted by NYguy
Daily News editorial...
http://www.nydailynews.com/opinions/...et_garden.html
The secret Garden
Steven Roth
Monday, April 30th 2007
Editorial
Steven Roth is a graduate of DeWitt Clinton High School in the Bronx who rose to become a titan of New York real estate. As chairman of the fabulously successful Vornado Realty Trust, he has grown wealthy and has made a lot of investors extremely happy by buying, selling and building major developments.
On Thursday, Roth discussed Vornado's progress and plans in his annual letter to shareholders. Seeing as how the company's stock price is up by more than 25% over the past year, it was an upbeat report. However, we feel compelled to respond on behalf of New York City taxpayers:
Dear Steve:
We read with interest that your joint venture is looking forward to starting a mega-project that would bring New York a new Madison Square Garden, erect a 90-story tower where the Garden now stands and create "a great, soaring Penn Station." Your plan, you stated, "is now in the approval process."
This was intriguing because, frankly, the public has no idea what you're proposing, let alone what is being approved or by what process. Perhaps you can enlighten. To wit:
The plan entails moving the Garden, owned by Cablevision, into the back of the Farley Post Office, the block-sized landmark that was supposed to have been converted long ago into the Moynihan train station. The concept is terrific, but details are sketchy.
Have you come to terms with Cablevision? And how much of the building would the Garden occupy? Preservationists are concerned it would take the lion's share of the space, leaving less than expected for the grand train station envisioned by the late Sen. Pat Moynihan.
And what have you worked out regarding the fact that Cablevision enjoys a wholly unjustified exemption from paying real estate taxes on the present Garden? Surely your plan would not extend that giveaway to a hugely profitable new home for the Knicks and Rangers?
As for that "great, soaring Penn Station," you're envisioning the creation of a magnificent portal on Eighth Ave. that would be a welcome addition to the cityscape - and markedly enhance the attractiveness of your multibillion-dollar development. Still, it has been reported that you're going to ask the public to subsidize the station entrance to the tune of $1 billion or more. If so, please explain why taxpayers should give you even a dime.
So that there's no misunderstanding, we think your plan could be super for New York. We only want to know what "is now in the approval process," as you put it. Rest assured that we will be asking Gov. Spitzer's economic development chief, Pat Foye, for the same information.
If you like, Steve, you can write us at voicers@nydailynews.com.
Thanks in advance.
Is this a fax or email inquiry to Vornado or a news article? I never know with the Daily Snooze.
Its a stupid faux 'letter' on new york's behalf. They could write that information in an intelligent article but nah, why do that?
It's an editorial, meaning it's their own, biased opinion. They don't speak for all New York obviously, but they do ask some legitimate questions...
Those are all questions that have to be answered sooner or later. This thing is moving forward with speed, so expect the sooner rather than later. Either way, this project already has the support of almost everyone involved (city/state). But this is a very public project, with a large public pricetag. It's not going to hurt Vornado or Related to give some answers.Have you come to terms with Cablevision? And how much of the building would the Garden occupy? Preservationists are concerned it would take the lion's share of the space, leaving less than expected for the grand train station envisioned by the late Sen. Pat Moynihan.
And what have you worked out regarding the fact that Cablevision enjoys a wholly unjustified exemption from paying real estate taxes on the present Garden? Surely your plan would not extend that giveaway to a hugely profitable new home for the Knicks and Rangers?
It's Mort Zuckerman, sleazy NY real estate developer and NY Daily News owner, using his perch as "publisher" of that tabloid to harass a competitor in the same business. It's an old routine. He has been doing it non-stop for the past six years with respect to Ground Zero, penning editorial after editorial the sole purpose of which is to slow development at the WTC site, and thereby prevent another of his rivals, Silverstein Properties, from getting ahead. It should be taken with a grain of salt.
Well, no matter the intention of the editorial, the questions raised are important and need to be answered.
Nothing is going to happen here, move along.
Too ugly to live, too big to die.
About the verboten Penn and Moynihan images that were posted briefly here (if comments are allowed) ... the public spaces look impressive and vastly improved, but I wish one of them had a great view down to the trains as the old Penn Station did.
From Wikipedia:
Please don't post any more pictures of the late, great Penn; it makes me cry . . .
Oh, you mean ones like these:
I had mixed feelings about the designs that were briefly posted. The thing that impressed me the least was the glass ceiling, which was in a simple barrel vault, and which I find far less compelling than the groin vault shaped glass ceiling of the original Penn. I'm not saying replicate that. I'm just saying, can we manage something more exciting than a barrel, and less bizzarre than the "potato chip"?
Also, I remember in one rendering seeing an entrance with gigantic plates of glass at odd angles to each other. Breathtaking, but I was puzzled as to how the whole thing was supported. Does anyone else recall that rendering? in the end, I think it would be dumbed-down significantly by the bean-counters. I remember the huge plates of suspended glass originally envisioned for the new downtown station and they were the first thing to be nixed.
When they're ready, they'll show us some fantastic dream renderings that everyone will cream over, and then do the old bait-and-switch when they have everything rolling.
I'm going to cling to my last shred of Penn Station optimism and hope they stun us with a true 21st century jewel,worthy of the pictures in the previous posts.
What a complete loss>>> What fu*king idiot decided to tear this beautiful building down? Nothing will ever be near to the elegance of the old Penn Station!
Wha?
They tore this thing down??
Here's more destruction photos:
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