Vornado Realty Trust <br>leases 203,000 s/f to Verizon

Manhattan, NY Vornado Realty Trust said that Verizon will relocate its New York headquarters to PENN 2, Vornado’s reimagined office tower in The Penn District campus.

As part of a 19-year lease, Verizon will occupy 200,000 s/f in office space across the eighth through tenth floors of PENN 2, which includes exclusive access to more than 25,000 s/f of outdoor space. Verizon will also establish a 4,400 s/f flagship retail location on Seventh Ave.

A Cushman & Wakefield team led by executive vice chairman, Josh Kuriloff, Peyton Horn, Heather Thomas, and Kyle Ernest represented Verizon in this transaction. Vornado was represented in-house by Glen Weiss, Josh Glick, Jared Silverman and Anthony Cugini.

“We are thrilled to welcome Verizon to the growing roster of world-renowned business, communications, technology, finance, and entertainment firms that have chosen The Penn District for their corporate homes,” said Glen Weiss, executive vice president - office leasing and co-head of real estate for Vornado Realty Trust. “Our reinvention of The Penn District  has produced a vibrant gateway to New York’s new West Side and represents a new era of workplace thinking, where dynamic environments, unparalleled connectivity, and employee-focused design come together to inspire collaboration and innovation.”

Vornado’s PENN 2 transformation incorporates an efficient curtain wall, a triple-height lobby; 16 double-height outdoor tenant loggias; and The Bustle. The new PENN 2 also encompasses 30,000 s/f of retail, including The Dynamo Room, a 7,100 s/f full-service restaurant and bar from Sunday Hospitality.

The building features 72,000 s/f of outdoor green spaces; 

The Perch, a rooftop glass pavilion and event space that opens onto a landscaped 17,000 s/f private green space available to all tenants; and a 280-seat town hall suspended above the 33^rd St. promenade.

PENN 2 also serves as the corporate headquarters for Madison Square Garden, Universal Music Group and Major League Soccer. Together with its neighboring PENN 1, the towers create a two-building connected campus in the heart of The Penn District . The twin projects encompass 4.4 million s/f of office space; a host of new and improved entrances to Penn Station and the surrounding subway system; and acres of new public plazas, landscaping, and new granite stone-paved sidewalks.

All PENN DISTRICT tenants have access to 180,000 s/f of Vornado’s WorkLife program, the most extensive and comprehensive amenity package in the city, highlighted by The Landing, a full-service restaurant, bar and private dining rooms; a 53,000 s/f sports, wellness and fitness center; and 100,000 s/f of flexible workspace and conference facilities.

The Penn District campus is situated above Penn Station, one of North America’s most accessible and active mass transit hubs. A total of 15 subway lines, along with Long Island Railroad, New Jersey Transit, PATH, Amtrak all converge in the district. They will be joined by Metro-North commuters starting in 2027.