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Hotel Pennsylvania to be renovated, not razed

2013-03-07 23:43:15| Real Estate - Topix.net

Owner, Vornado Realty Trust, says plans to knock down the nearly century-old hotel and replace it with a 67-story office tower are "on the shelf." Vornado Chairman Steven Roth says a tower project is no longer possible and the company plans to aggressively invest and upgrade the hotel and try to make it profitable.

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